Hello,
I want to know if Long term Capital Gain can be set off against first Long Term Capital Loss and thereafter, if gain still remains, with Short Term Capital Loss?
Regards
Rajiv
Long Term Capital Gain set off
Replies (6)
Quick Summary
Hi Rajiv,
First you should go for Intra Head adjustments, in case of excess amount you can offset the same with inter-head also. incase there is no LTC Loss then you offset the LTCG with STC Loss.
Amit.
please refer section 74(1) (b) of the Income Tax act 1961 , One can not set off Short term capital loss against Long term capital gain , In think in any case .
Short term capital loss will have to be carry forward. it can not be set off against LTCG
Hello,
STCL can be set off against LTCG
but LTCL can't be set off against STCG.
STCL can be set off against LTCG
but LTCL can't be set off against STCG.
Yes Krishna is right.
restriction is only for LTCL, StCL can be set off either against STCG or LTCG
restriction is only for LTCL, StCL can be set off either against STCG or LTCG
Thanku brother
Recent Topics :
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
Related Topics :
CAclubindia
