Can I adjust short term capital gain loss current year against salary income in same financial Year.
CA CS* RAKESH RANKA (CA CS* B.COM NCFM(Level1)) (46 Points)
15 March 2010Can I adjust short term capital gain loss current year against salary income in same financial Year.
praveen
(Chartered Accountant)
(6971 Points)
Replied 15 March 2010
No. you can adjust only short term capital gain or long term capital gain against stcl
Preetham S L
(CA Final Student)
(94 Points)
Replied 15 March 2010
Hi Rakesh,
you cannot set off any loss against salary income.
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 15 March 2010
Nope, agains salary.. u can avail only HP LOSS
C.Balaji
(Learner)
(1867 Points)
Replied 15 March 2010
Dear Friend......
STCL cannot be adjusted against salary income.............
It can be adjusted against Any CG......(STCG or LTCG).........
Rajat Singhal CA,CS,CFA
(Senior Manager (F&A))
(254 Points)
Replied 15 March 2010
kanika
(ipcc student)
(62 Points)
Replied 15 March 2010
no , short term capital loss can not be set off against salary head .
bacause capital gains can not be set off against income under any other head . it can be set off against capital gain of current year .
it is described under section 74 ofincome tax act.................................................
DR GAURAV GUPTA FCA, FCS, LL.B
(COMPANY SECRETARY)
(1046 Points)
Replied 15 March 2010
stcl can only be adjusted against STCG OR LTCG
SUDHIR & PRADEEP JI
(CA FINAL+LLB + DISA)
(2299 Points)
Replied 15 March 2010
no there is no pronision 4 setoff. pls say thanks by clicking
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