02 July 2011
I have started a new business in education which will be profitable only a year or two later. I have significant income from shares (short-term) taxable at 30% slab. Should I move the shares/investing activity to the company, so I can set-off losses from education biz vs profits from shares ... effectively saving on tax?
You are thinking in a right way of Tax planning by way of future prediction. In my view if you are sure that you are going to generate capital gains in the coming years which is very difficult to predict then you can trade in shares in company's account and set off the losses from education business from it.Thus you can save your taxes.
CAclubindia
