Shares short term and long term loss

Question 1

NIL Tax

Question 2

If u have any short time capital loss then u can set off the loss in the coming 8 assessment year from short trem as well as long term capital gain.

Question 3

Long term capital gain from sale of share is exemted from tax U/s 10(38) if it is covered by STT.

Thanks.

Which ITR we can use to show short term gain (Shares) and  how to calculate its tax?

ITR 2..download from https://incometaxindiaefiling.gov.in/

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Long term capital gain on sale of shares on which STT paid exempt from capital gains

Short term capital gain on sale of shares on which STT paid taxable at flat rate of 20%

If STT not paid, short term capital gain on sale of shares  is taxable by including in computation of total income and long term capital gain on sale of shares shall be taxable at the rate of 20%

i have heard a lot about fake long/short term capital gains/losses... whats that all about

i have heard a lot about fake long/short term capital gains/losses... whats that all about

go through this link

https://www.studycafe.in/search?q=set+off&x=0&y=0

Can I set off short term loss with long term Gain on sale of share on which I have paid  STT and which is also eligible for exemption u/s 10(48) ?

@ Vap Pate: As per first point, yes. Expert :Any comment.

Hi Vap,

If an income is exempt, u cannot set off loss against it.

In ur case, u cannot setoff short term capital loss aagainst long term gain exempt u/s 10 (38) 

@ Nuli-

>>Short term capital gain on sale of shares on which STT paid taxable at flat rate of 20%
I read in multiple article that it is 15%. Will you please reconfirm?

IT is 15%.Refer sec 112 and 111A of Income Tax act 1961

yes it is 15% not 20% and as long tern capital gain on sale of shares in which STT paid is exempt,how can u set off short term capital loss with this.u can carry forward and set off against furthur short term caital gain up to 8 years