Long Term Loss On Shares

YOU CAN NOT  set off or carry foreward long term capital loss on share, since long term capital gain of share is exempt

Agree with CA Navin Jain
 

Long Term Capital LOSS on shares can be carried forward for 8 assessment years provided the shares are NOT LISTED and SECURITY TRANSACTION TAX  is not paid on Transfer of shares.

Regards

Ritin Kharbanda

hai vipul, first LTC Loss has set off against LTC Gain only, and c/f is possible 4 further 8 A.Y. year, and set off under same head only,

keep sharing,

Dear Friends.

Long Capital Loss Other than shares which are Listed in stock exchange and suffered STT can be carried forward or set off.

But Income from Long Term shares sold in stock exchange is exempted from Tax. So there is no concenpt of loss here because income itself is exempted. (Expenses incurred or lossess suffered to earn exempted income cannot deducted from taxable income)

long term capital gain from shares is totally exempted s10(38)

Expenses incurred or lossess suffered to earn exempted income cannot deducted from taxable income

you cannot carry forward the loss to the subsequent years because being an exempt income u r not supposed to do so .

I agree with RITIN,he is correct.

long term loss  on shares can only setoff agaist long term capital gain on shares of same year....

if the transaction of sale is chargeable to security transaction tax then Long term capital loss on sale of debentures can be set off. It is a dead loss because where any income from any source is altogether exempt then there is no treatment of loss arising from that source.