08 January 2008
(STCG)or Short term capital loss can be set-off only by STCG.But this STCG may be of two types i.e.Earned by delivry (Shares transferes) and by Jobbing System. Now my query is that whether this Jobbing Short term Capital Loss is capable to be set off & C/F for being set-off?? If Yes Whether by (i)STCG by Delivery System (ii)STCG by Jobbing System (iii)OR Both Regds/ Anil Jain
25 February 2008
The Income Tax does not states the nature of STCG ot STCL which can be adjusted agst Profits or Losses. As such the answer to your query is (iii).
CAclubindia
