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Income tax
I have short term capital loss of Rs 50000 from shares and I have long term capital gain of Rs.60000 from shares in A.Y 2019-20. How will it be set off and carried forward?
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If both transactions ocurred in same FY 2018-19, the STCL will get set off against LTCG, and remaining LTCG of 10K will be taxable.... (be subject to exemption limit u/s. 112A)
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