I have a confusion over Loss set of in Computation of Income through Intra & Inter Heads. Herewith I mention scenario as below for your expert advise. Scenario-1 If have Business Loss If have Short Term Capital Loss @ 15% & If have Long Term Capital Gain (10% or 20% no matter)
Q-1 Will Business Loss (Higher Tax Rate) be adjusted first or Short Term Capital Loss @ 15%? Q-2 Short Term Capital Loss is permitted to Set off with Long Term Capital Gain so will ST & LT be considered under Inter Head or intra Head?
Scenario-2 If have Short Term Capital Loss @15% & If have Long Term Capital Gain with 10% and 20% both
Q-1 Will the LTCG @20% adjusted first or LTGC@10%?
CAclubindia
