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Short term and long term gains

Tax queries 467 views 5 replies
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Engineer
68 Points Joined March 2020

Hello,

Can I square off short term capital gains against lont term capital loss?

I don't have any long term capital gains.

Thanks 

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On 05 January 2024 at 10:19 Report
Replies (5)
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CA
10436 Points Joined March 2019
Yes you can.
1 Reply
On 05 January 2024 at 10:39
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Tax consultant
552 Points Joined November 2020
Not possible.
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On 05 January 2024 at 10:41
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Profession Business
28196 Points Joined May 2017
Short term and long term gains can be easily calculated depending on the quantity and market value.
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On 05 January 2024 at 14:55
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Practising CA
8954 Points Joined December 2013
Long-term capital loss cannot be set off against any income other than income from long-term capital gain. However, short-term capital loss can be set off against long-term or short-term capital gain.

Rgds-CA Raj Doshi-R C D & Co.-Chartered Accountants-Kandivali West-Mumbai
1 Reply
On 06 January 2024 at 00:30
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Profession Business
28196 Points Joined May 2017
Long term gain against long term capital loss.
short term gain against short term capital loss.
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On 06 January 2024 at 14:45

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