Carry forward of loss on shares where stt is paid

This query is : Resolved

Jignesh Desai (Querist)
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11 July 2013 Although it is understandable that Long Term Loss on Shares where STT has been paid is normally not carried forward because Long Term Capital Gains on such Shares is exempt u/s 10(38) . However , I have a thought . In the remote event that in the future , the Government re-introduces Long Term Capital Gain on Shares liable to STT ,in that case , if current Long Term Losses on such Shares had been carried forward , then , these Losses would be able to be set-off against any Capital Gains which may be made on such Shares in such future years (Where capital Gains on such Shares has been re-introduced) .

Is it true that absolutely no C.A. Software will allow carrying Forward of Losses on such Shares ? Is it possible to Carry Forward Loss on such Shares ?

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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24 August 2013 No it is not allowable. In my opinion just you calculate the loss and while filing your return you should mentioned in the appropriate page of carry forward of losses and in case in new change in law is brought you can get the benefit as stated by you.