chenna rangantham (nil) (38 Points)
27 July 2012I have long term capital loss on sale of shares traded thru recognised stock broker with STT.Can this loss be carried forward to the next years.
If i make long term capital loss by selling shares thru OFF Market ,can the loss be carried forward to next year.
pl convey the right way to use long term capital loss on sale of shares in the next coming years.
Manjunath
(Audit assistant)
(48 Points)
Replied 27 July 2012
Long term capittal gain on shares is exempt if STT is paid.loss of any source which is of exempt income loss cannot be carried forward / cannot be setoff in the current year income of other source.
LTCG which is not exempt can be carried forward.
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 29 July 2012
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