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Long term capital gain

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Can long term capital gain in shares where stt is paid set off with long term capital loss in share with stt paid
Replies (20)
Capital gain on shares on which STT paid is exempted u/s 10(38)
 
Can long term capital gain in shares where stt is paid set off with long term capital loss in share with stt paid

 

YES, for same financial year!

No it cannot be set off because Government does not impose any tax on Long Term Capital Gain where STT is paid hence no benefit for the Government where assessee earns LTCG. Entire Gain bekongs to the assessee. Similarly when the assessee incurs Long Term Capital Loss it is to be borne by the assessee only and he cannot claim set off.

LONG TERM GAIN IS EXEMPTED IF STT PAID

Dear Malhar Sir,

Long Term Capital Gain on shares on which STT is paid is liable to tax @ 15% u/s 111A.

Thank you Sir. Sir I made long term capital gain of rs 12000 by selling shares of one company and long term capital loss of rs 4000 by selling shares of another company in same financial year, in both cases stt paid, then while showing gain in itr form should I write long term gain as 12000 or as 8000 please advice

LTCG - Rs 12,000

LTCL - Rs. 4,000

After Set-off

LTCG - Rs. 8,000 

Tax - @ 15% u/s 111A

LTCG as Rs. 8000/- Under EXEMPTED INCOME

Show Rs. 12,000 asLong Term Capital Gain. It is exempted US 10(38) so you don't have to pay any tax on it.

Respected Sir,

Why Rs. 8,000 is exempted ? plz reply sir

Sir, long term capital gain is tax exempt and STCG is charged at 15%

Thanks Sir

Respected Malhar Sir,

Tax on Long Term Capital Gain on which STT is paid exempted u/s 10(38).

sorry i told you about STCG

Thanks to all. Here I learn something

Most welcome.


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