LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

STCL on listed Shares

Pramod (Student) (5 Points)

15 August 2020

Is Loss from sales of Listed equity shares/Futures eligible for c/f u/s 74?

The section is general one but silent on specific losses.

I just want to confirm about this. I see c/f is for 8yrs.

Is there any specific notification or amendment related to STCL on sale of shares?

Plz comment... Tq

Reply
Follow
Share

5 Replies

CA Raj Doshi (Practising CA) (8723 Points)
Replied 15 August 2020

STCL on listed shares shall be carried forward for 8 years as LOSSES UNDER THE HEAD CAPITAL GAIN

Losses from Futures shall be carried forward for 8 years as LOSSES UNDER GHE HEAD ORDINARY BUSINESS

vikram chouhan (131 Points)
Replied 15 August 2020

I think you can carry losses of equity future for 4yrs under loss from speculative transaction

Pramod (Student) (5 Points)
Replied 19 August 2020

@ Raj C Doshi Sir... If trading in Futures contract is done by an Individual salaried person, can it be shown as Ordinary Business, I think it should go under the head CG as it is only personal trading but not done in full time as a business and done in favour of some customers. Plz reply. Tq