Set off STCG vs STCL

Tax queries 1028 views 4 replies
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ca
153 Points Joined February 2008

If there is Short term Capital loss in shares (111A) can it be set off against normal Short term capital Gains?? and vise versa..

plz justify.

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On 10 March 2010 at 22:04 Report
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Student
498 Points Joined February 2010

You can set off STCL on shares u/s 111A with STCG and vice versa it is as per sec 70 for current year loss and as per sec 74 in case of B/f losses

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On 10 March 2010 at 22:23
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CA FINAL
79 Points Joined November 2007
STCL can be set off against ANY Capital Gain... Regards KRISHNA
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On 11 March 2010 at 10:48
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Learner
1867 Points Joined October 2008

Yes........STCL can be set off against any Capital gain..........

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On 11 March 2010 at 20:49
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CA in Practice
35867 Points Joined June 2009
Yes. STCL u/s 111A can be set off against any Capital gain.
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On 11 March 2010 at 21:05


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