setoff and carry forward

V.D.KRISHNA PRASAD (STUDENT) (183 Points)

07 December 2010  

can we setoff speculative short term capital loss  with speculative Long term capital gain  which is exempt because the LTCG is from sale of shares on which STT is paid

is there any provision in the It Act ,Becuse the LTCG is exempt we can't setoff STCL from sale of shares  for the A.Y 2008-09