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 :
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
Related Topics :
CAclubindia
