Set-off of STCG

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Student
231 Points Posted on 09 October 2020
can STCG on. block sale of Assets be set-off against business losses in case of Companies?
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On 09 October 2020 at 11:19 Report
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This discussion clarifies whether Short Term Capital Gains (STCG) from asset sales can be offset against business losses for companies. The consensus is yes, as the Income Tax Act does not differentiate between company and non-company assessees for loss set-off provisions. Therefore, companies can indeed offset STCG against their business losses.

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Job
151 Points Posted on 09 October 2020

Yes...You can set off Business losses with Capital gains.

So in your case you can set off Business losses with STCG

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On 09 October 2020 at 11:26
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Student
231 Points Posted on 09 October 2020
Is this APPLICABLE for COMPANIES TOO?
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On 09 October 2020 at 11:27
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Job
151 Points Posted on 09 October 2020

There is no separate provisions for company & non company assesses for set off of losses under Income tax Act.

My opinion is that , it is applicable to companies also & you can set off STCG & business loss .

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On 09 October 2020 at 11:41

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