1. I have short-term losses arising from share transactions that have been carry forwarded from previous years. Can these losses be setoff against:
a. Short term gains from share transactions in the current and future years?
b. Interest income from fixed deposits in the current and future years?
short term capital loss can set off against short term capital gain and long term capital gain
Short term Speculative loss can be set off only against speculative long term or short term capital gain.
It cannot be set off against int income from FD.
If share transaction is in an adventure in the nature of trade (Means it is ur business) then it is a speculation loss . In this case the loss can be adjusted only against the speculative income otherwise follow the topic posted by Siddharth Bumb.
Hello everybody,
I would like to get a chart on Set Off & Carry Forward of Losses for easy understanding of it.
If anyone has it can you please mail me on my mail id tushargujar87 @ yahoo.in.
Please help me otherwise & let me know the web address from where I can download it.
Thanks & Regards
Tushar Gujar.
| Originally posted by : Siddharth Bumb | ||
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short term capital loss can set off against short term capital gain and long term capital gain |
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