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Short term and long term gains

Tax queries 479 views 5 replies
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Engineer
68 Points Posted on 05 January 2024

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 Posted on 05 January 2024
Yes you can.
40 Reply
On 05 January 2024 at 10:39
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Tax consultant
552 Points Posted on 05 January 2024
Not possible.
2 Reply
On 05 January 2024 at 10:41
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Profession Business
28207 Points Posted on 05 January 2024
Short term and long term gains can be easily calculated depending on the quantity and market value.
44 Reply
On 05 January 2024 at 14:55
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Practising CA
8954 Points Posted on 06 January 2024
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
30 Reply
On 06 January 2024 at 00:30
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Profession Business
28207 Points Posted on 06 January 2024
Long term gain against long term capital loss.
short term gain against short term capital loss.
44 Reply
On 06 January 2024 at 14:45


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