Long term loss on shres

CA Paras jain (Audit Senior Assistant) (1544 Points)

23 May 2011

Can we carry forward long term loss on sale of shares on which STT has been paid?

Also, if we can carry forward then under which head they can be set-off?

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6 Replies

C.A.M.S.ROY (C. A.) (478 Points)
Replied 23 May 2011

LTC gain on sale of share is exempt. thus LTC loss cannot be carry forward.

CA SAHIL MITTAL (JOB) (240 Points)
Replied 23 May 2011

Dear LTCG on sale of shares on which STT has been paid is exemp u/s 10(38)...

Also income includes loss..

Hence loss is exempt having no treatment..

You cannot carry forward it.

Also it is not possible to deduct any expenditure related to it from anywhere as section 14A restricts it.

M. N. JHA (CA) (8316 Points)
Replied 23 May 2011

No. . . . . . . . . . . . . . . no setoff. . . . . . . . . . . . . .

CA Paras jain (Audit Senior Assistant) (1544 Points)
Replied 06 June 2011

Thanku all.. :)

misterkiku (Manager) (21 Points)
Replied 30 July 2011

Can we carry forward long term loss on sale of shares overseas (so STT has not been paid)?

preethi (student) (253 Points)
Replied 30 July 2011

Originally posted by : Maya shankar
	LTC gain on sale of share is exempt. thus LTC loss cannot be carry forward.

Fully agree

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