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capital gain - set off

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 September 2010 can we set off long term capital gain by sale of land from the carry forward business loss of a company
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
23 September 2010 NO
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CA Punit

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CA Punit (Expert)
23 September 2010 correct...
only current year business loss can be set off against LTCG
brought forward business loss can be set off only against business income
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CA Navin Jain

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CA Navin Jain (Expert)
23 September 2010 AGREED WITH PUNIT

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