MY CLIENT IS HAVING LTCG SAY OF 50000 AND SIMULTANEOUSLY LONG TERM CAPITAL LOSS OF 25000 BOTH ARE FROM SHARE TRADING ON WHICH STT HAS BEEN PAID SO CAN I CARRY FORWARD 25000 LOSS FOR 8 YRS OR IT IS COMPULSORY TO SETOFF AGAINST EXMPT INCOME OF 50000
MY CLIENT IS HAVING LTCG SAY OF 50000 AND SIMULTANEOUSLY LONG TERM CAPITAL LOSS OF 25000 BOTH ARE FROM SHARE TRADING ON WHICH STT HAS BEEN PAID SO CAN I CARRY FORWARD 25000 LOSS FOR 8 YRS OR IT IS COMPULSORY TO SETOFF AGAINST EXMPT INCOME OF 50000
As per act any exempted income cannot be used for set off & it is equitable to c/f for 8years.
agreee with above
Since LTCG on sale of shares is fully exempt U/s.10 (38) , LTC loss on sale of shares cannot be carried forward to be set off.
| Originally posted by : CA. Manish Chandarana | ||
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Since LTCG on sale of shares is fully exempt U/s.10 (38) , LTC loss on sale of shares cannot be carried forward to be set off. |
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Agreed.
agreed with Manish Sir
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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