Set off of losses

Hello Saurabh

No the Assessee cannot set off the loss, as Long Term Capital Loss can be set off only against Long Term Capital Gain.....

Thanks & Regards

Ravi Dasija

bt as per assessment year 2006-07 long term can be adjusted with short term. so do u have a notifications for satisfying ur ans.

hello saurabh,

Do u have Ammendment of 2006-07 saying Long Term loss can be adjusted against Short term Gain.?

Dear

Long Term losses can be set off only agianst long term  profit in same head in different finalcial year. it means next f.y.

short term can be set off against same year  1) short term 2) long term Capital Gain.

Next F.Y. short term loss Set off against short term  capital gain

is business loss of a firm can be set off against speculation business

No, business loss can not be adjusted against speculation business.

speculation business is different from normal business.