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Set Off Loss of 10(38)
Can Long Term Capital Loss of sale of shares on which STT is paid on purchase as well as sales which is exempt up to 1,00,000Rs. be set off against any other income ?
Replies (3)
no..
loss of capital nature (ltcl Or stcl) cannot be set off from income of any other head..
however ltcl can be carried forward maximum upto 8 years & can be set off only from ltcg if return is filed within due time..
loss of capital nature (ltcl Or stcl) cannot be set off from income of any other head..
however ltcl can be carried forward maximum upto 8 years & can be set off only from ltcg if return is filed within due time..
Loss on sale of share on which stt is paid on purchase as well as sale can be set off against LTCG?? because gain from such shares is exempt upto 1,00,000
Yes, it can be set off with any other LTCG, in the same year; or can be carried forward upto next 8 years to set off against any LTCG.
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