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Short Term Capital Gain

Tax queries 853 views 11 replies

Chinmay

Accounts Professional

356 Points Joined January 2010

If I Purchase 2 Shares @ Rs.50/- each & sell @ Rs. 75/- & Rs. 45/- so what is my tax liability?

The profit of STCG can set off aginst loss from similer income?

Replies (11)

Sunshine

Helping All

10575 Points Joined March 2010

yes the profit from STCg can be adjusted with other STCG loss but not LTCG loss...

U S Sharma

glidor@gmail.com

21063 Points Joined January 2010

75-50= 25 STCG

45-50= -5 STCL

net STCG = 25-5 = 20

STCL can be adjusted against STCG

Tehsinkhan Pathan

CA CMA DISA(ICAI) B.COM

3956 Points Joined November 2010

Originally posted by : U S Sharma
	75-50= 25 STCG 45-50= -5 STCL net STCG = 25-5 = 20 STCL can be adjusted against STCG

vijay

Accountant

902 Points Joined December 2008

Originally posted by : U S Sharma
	75-50= 25 STCG 45-50= -5 STCL net STCG = 25-5 = 20 STCL can be adjusted against STCG

sachin sharma

article

122 Points Joined January 2010

hi chinmay

75-50= 25 STCG

45-50= -5 STCL

net STCG = 25-5 = 20

STCL can be adjusted against STCG

mr us sharma is right on his point

Bhav Bhuti Sharma

Towards Professionalism

823 Points Joined April 2009

Originally posted by : U S Sharma
	75-50= 25 STCG 45-50= -5 STCL net STCG = 25-5 = 20 STCL can be adjusted against STCG

agree

Priya .

CA -PCC

131 Points Joined November 2007

can be set off against LTCG TOO.(BOTH long term & Short term capital gain)

U S Sharma

glidor@gmail.com

21063 Points Joined January 2010

Originally posted by : Priya .
	can be set off against LTCG TOO.(BOTH long term & Short term capital gain)

as ltcg is zero rated u/s 10 (38) it would be only book entry , no real benefit for adjustment.

M. N. JHA

8316 Points Joined June 2009

Originally posted by : U S Sharma
	75-50= 25 STCG 45-50= -5 STCL net STCG = 25-5 = 20 STCL can be adjusted against STCG

Chinmay

Accounts Professional

356 Points Joined January 2010

Thanks everyone but there is one more query.......

Can I carry forword thos Rs.20/- loss upto 8 years as per u/s 72......

U S Sharma

glidor@gmail.com

21063 Points Joined January 2010

Originally posted by : Chinmay
	Thanks everyone but there is one more query....... Can I carry forword thos Rs.20/- loss upto 8 years as per u/s 72......

if u have no STCG in the year to adjust the STCL then u can carry forward, and adjust the same when STCG available for adjustment, but if STCG is available then u can not carry forward.