LONG TERM CAPITAL LOSS AGAINST CAPITAL GAIN

Tax queries 627 views 6 replies

I have following loNg term capital assets transaction

1) House bought in 1988 - sold in 2023 

2) SREI equipment finance NCD bonds  50k invested - amt not redeemed 

  Got only  Rs 3050 After 2 years of due redemption.  

My question regarding filing ITR-3 is 

a) where is LONG TERM CAPITAL GAIN LOSS in ITR-3

b) Whether gain in 1 can be setoff against loss of  2

BOTH TRANSACTION HAPPENED IN THIS YEAR.(FY 2023-24)   

 

Replies (6)

The manner of payouts to the holders of the NCDs is set out below:

1. Dissenting Secured NCD Holders: Particulars Amount (INR Cr) Cash (Share of Liquidation Value) 18.57

2. Assenting Unsecured NCD Holders: Particulars Amount (INR Cr)

Cash - Tranche 1    9.62

Cash - Tranche 2     3.73

Cash – In lieu of SRs * 9.80

OCD 42.13 Equity (SIFL) NIL

 

3. Assenting Secured NCD Holders Particulars Amount (INR Cr)

Cash - Tranche 1 182.31

Cash - Tranche 2 49.50

SRs (Backed by NCDs and CCPS) 139.96

OCD 731.89

Equity (SIFL) - % holding 1.24% Payout

 

Payments to NCD Holders as per the approved resolution plan including Cash Payment, issuing of OCDs to Trustees, Security Receipts, NCDs and Equity Shares of SIFL, wherever applicable are in the process of being made. Please also note that on payment/ issuance of instruments in accordance with the approved resolution plan, as specified below of various classes of NCD holders, all rights of NCD holders shall be governed by the terms of such instruments.

Calculate the net amount received along with that yet to be received as per resolution.

Long term capital loss to be adjusted against long term capital gain

Thanks Rambhia Sahab.  I have received only about  4k  in FY 2023-24.  Against  50 NCD debentures of 1k each. 

Thanks Mukherjee Sahab . But Long Term loss is not there in ITR-3 . 

 

Till the total consideration is not received in the relevant year, consider it as advance, no need to declare loss at present.

Thanks again Rambhia sahab


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