Capital Gain / Loss
This query is : Resolved
08 September 2009
Respected Sir,
My question is for Capital GAIN AND LOSS.
CAN WE SETUP SHORT TERM CAPITAL LOSS FROM SALE OF SHARES TO SHORT TERM CAPITAL GAIN FROM SALE OF PROPERTY ?
REGARDS,
Amit Kr.
delhi009@yahoo.co.in
My question is for Capital GAIN AND LOSS.
CAN WE SETUP SHORT TERM CAPITAL LOSS FROM SALE OF SHARES TO SHORT TERM CAPITAL GAIN FROM SALE OF PROPERTY ?
REGARDS,
Amit Kr.
delhi009@yahoo.co.in
08 September 2009
ya u can setoff..
08 September 2009
SECTION 70(2)
(2) Where the result of the computation made for any assessment year under sections 48 to 55 in respect of any short-term capital asset is a loss, the assessee shall be entitled to have the amount of such loss set off against the income, if any, as arrived at under a similar computation made for the assessment year in respect of any other capital asset.
(2) Where the result of the computation made for any assessment year under sections 48 to 55 in respect of any short-term capital asset is a loss, the assessee shall be entitled to have the amount of such loss set off against the income, if any, as arrived at under a similar computation made for the assessment year in respect of any other capital asset.
08 September 2009
Yes u can set off
Guest
Guest
(Expert)
08 September 2009
ya, u can set off short term capital loss from sale of share against short term capital gain from sale of property subject to that short term capital loss from sale of shares is not from speculation business.
09 September 2009
undoubtedly YES
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