Query on set off loss

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CA
24 Points Posted on 17 January 2014

I have short term capital loss of Rs. 10,000 (111A)

I have short term capital gain of Rs. 9,000 (111A)

My Long term capital gain by property transfer is Rs. 50,000

can i set of loss of Rs. 10,000 with long term gain and pay tax on 40,000 @ 20 % and 15% on 9,000.

 

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On 17 January 2014 at 18:49 Report
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2345 Points Posted on 18 January 2014

First the STCG and STCL of Section 111A shall be interadjusted. And Rs. 1000 Loss shall be adjusted against LTCG of Rs. 50,000. Tax Payable on Rs. 49000 @ 20 %.

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On 18 January 2014 at 01:43

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