31 May 2014
SIR, A COMPANY HAS INCURRED LONG TERM CAPITAL LOSS ON SALE OF EQUITY SHARES RS.1.30 CRORES AND HAS EARNED LONG TERM CAPITAL LOSS ON SALE OF LAND RS.1.50 CRORE SIR PLEASE GUIDE ME THE LOSS CAN BE SET OFF AGAINST PROFIT WITH REGARDS
31 May 2014
If STT is paid on equity share then such loss cannot be set off against any income. Loss on land long term can be set off only against any other long term capital gains.
CAclubindia
