under section 10(38). LTCG on sale of shares is exempt.
if there is long term capital loss on shares on which STT has been paid, will it be allowed to be set off against any other long term capital gain.
Menu
long term capital gain on sale of shares
Replies (2)
Hello,
As per Provisions of Income Tax Act 1961, the loss from source from which income is exempt can not set off against any other taxable income. Accordingly as long term capital loss on sale of shares on which STT is paid is exempt,it will not be set off aginst other long term capital gains.
Thank you,
Yes since income is exempt loss cannot be available to be set off against other gains or income
Recent Topics :
- LTCG: Home Loan Principal Repayment?
- Ims action relationship query
- GIFT REGARDING
- TDS on salary to non resident managing director
- Ewaybill and Transport documents (Lorry receipt)
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
- TDS processed with short deduction default
Related Topics :
CAclubindia
