TDS on Salary Income (What happens to LOSS from Other Source

Loss fom sales of share can't setoff against salary Income....

Hi jignesh,

Your salary inome is 5 lakhs only.

u can not clubbed any loss with salary income except house property.

U r not mentioned whether it is Short term loss or Long term loss,

if it is short term loss u can setoff with the Long term & Short term capital gains

if it is Long term loss u can setoff with the Long term capital gains only.

Mr. Purushottam is correct.

Hi Purushotham,
Thank you for the reply, Well I have both short term and long term loss..

I understand that it can be carried forward for next financial year. How is that done? I mean do i show it as a short term / long term loss while filing return?

Further what happens next year. Do I show this as a carry forward and then add the next year captial gain income.

Hope i have put my question right? Please advice

Mr. Jinesh

both the Loss : STCL and LTCL r saparate term U hav to show saparately.There is a provision as per sec. 10  (33), 10(38) , 10(36) CG is not chargeable to tax , Coversely, in cases  if assets r transfered at a loss, such capital loss is not taken in to consideration.  Hence, LTCL on shares can not be c/f.