Capital gain set off rules ?
This query is : Resolved
Balarama.p
(Querist)
03 October 2012
• Can Long term capital loss from sale of shares and mutual funds (STT paid) be adjusted against the LTCG from sale of plot???
OR
3. Can Short term capital loss from sale of shares and mutual funds (STT paid) be adjusted against the LTCG from sale of plot ??
OR
3. Can Short term capital loss from sale of shares and mutual funds (STT paid) be adjusted against the LTCG from sale of plot ??
CA Navin Jain
(Expert)
03 October 2012
1. long term capital loss of share never adjusted since long term capital gain of share is exempted.
2. yes you can adjusted.
2. yes you can adjusted.
Pankaj Gupta
(Expert)
04 October 2012
Only the short term capital gain can be adjusted. The reason for not allowing the long term capital loss is because it is from a source, the income from which is exempt from income tax. And the reason is simple that when the income from such source was exempt then why the department should give adjustment for loss in relation to such source of income.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Ito add credit side of bank
- Employee secondment
- GSTR9 Annual Return
- Applicability of tax on invoice
- Capital gain on commercial property and investment in residential property
- LLP audit and disclosure
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Gift to nri relatives resides in usa
- Rectification under processing even after 6 months cpc portal
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
