I have sold some shares and have LTCG. I also have some recent stock purchases where i am in losses. Can i sell these shares and buy again and set-off this loss against LTCG. Can i buy them again immediately or it has to bought after 31st March 23.
Menu
Set off STCL again LTCG on stocks
Replies (12)
Quick Summary
You can sell the shares and claim the short term capital loss against the LTCG. You can buy the sold shares immediately, you don't need to wait to buy it after 31.03.2023.
For which Financial Year you have LTCG ?
22-23, shares were sold last week.
Pay tax on LTCG and go for averaging of equity instruments under loss
I can average and still claim STCL , can i not?
No.If it sold for loss then only you can claim .
But the financial year is just started then why you want to book loss .It will not be counted for last year IT filing
But the financial year is just started then why you want to book loss .It will not be counted for last year IT filing
I have Capital gain this year not last year, i want to reduce the LTCG, i am in loss right now in short term, if i dont book loss now i may not be able to book later and reduce the LTCG. If i can book loss now and buy at the same price it looks beneficial to me.
It is upto you. Stocks have the advantage of shifting the tax burden through various routes
| Originally posted by : Eswar Reddy S | ||
 |
Stocks have the advantage of shifting the tax burden through various routes |  |
Can you elaborate or share some links.
Sale is in your hands tax burden can be shifted to upcoming years.
Booking window loss in one account to minimise tax and booking profits in another account
Booking window loss in one account to minimise tax and booking profits in another account
| Originally posted by : Eswar Reddy S | ||
|
No.If it sold for loss then only you can claim . | |
Example - I Buy 100 shares of company A for 1500 , now the price has reduced to 1000. I sell at 1000 and book loss and immediately buy back the shares at 1000. Later the price goes down further and i average but dont sell the shares. I can still claim short term loss for the 100 sold shares. Correct me if i am wrong.
Yes, you can claim the loss for the 100 sold shares.
Recent Topics :
- Updating form 10-ee and Schedule FA if there is ch
- Sale of property in SLUM area ....SRA
- GST applicability on Shipping charges
- Outstanding Demand in Income Tax: How To Respond?
- LTCG on property sale
- Capital gains incidence due to bonus shares
- Amendment of Object Clause of Memorandum
- How Can I Request a Refund for an Accidental Airte
- TDS on salary paid in cash
- YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU
Related Topics :
CAclubindia
