Share Sales Loss can be adjusted against salary Income

Dear sanjay,

Long Term Capital Loss cannot be setoff with Salary Income.

any loss canot be set-off with salary income.

Hey AMIR.... u r back man??

Where were u for so many time??? Man, many querries remained unsolved due to ur absence...

Nywz, good to c u back in action...

And bhai SANJAY, only loss from HP can be set off against SALARY... no other loss

thanx for correcting me.

Dhiraj Bhai,

Thanks for welcoming me......:)

I m sure u must have asked very difficult ones dats y dey remained unanswered, thanks to god I ws not there otherwise u would have asked to answer those bouncers..........:)

Regds,

Dear Amir Brother......Welcome Back......a gap of One week rite.............

and for the query....Amir bhai is rite...........

Long Term Capital Loss cannot be set off against Salary income..........

Long Term Capital Gains on Sale of Shares routed through Stock Exchange and STT paid is Exempt from tax ........and therefore LTCL cannot be adjusted against any income........Am i rite.???Amir bhai..........

Dear Balaji,

Thanks Bro.....

Yes u r rite regading LTCL on which STT has been paid.

But infact in general, LTCL cannot be setoff against salary

Yes.........I agree.........

Long Term Capital Loss can be set off only against Long Term Capital Gains or Short Term Capital Gains (If STT is paid u/s 111A).  If the LTCL is on transfer of Shares where STT is paid it is exempt u/s 10(38) (both loss or gain)... So it cannot be set off against salary....

Dear Freinds,

According to section 71(3):-

For Losses under Capital Gains Inter head setoff is not permissible

Regards

Rajat

long term loss cannot be set off against salary income.

Originally posted by : D н ! я σ ĵ
	Hey AMIR.... u r back man??   Where were u for so many time??? Man, many querries remained unsolved due to ur absence...   Nywz, good to c u back in action...     And bhai SANJAY, only loss from HP can be set off against SALARY... no other loss

WELCOME BACK AMIR SIR...................
 

no there is no provision 4 setoff  as u said it above.

  but sanjay say thanks 2 me by clicking thanks user button

Frnds, Answer to this Query is that the assessee had not planned his profits & even losses

BCOZ in this Case

Client is having DEAD LOSS