Long term loss
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 September 2014
Long Term Loss can be carry forward or not
12 September 2014
Long Term Capital Loss can be carried forward and set off against Log Term capital gain only.
Since LTCG on listed shares where securities transaction tax (STT) has been paid is exempt from income tax, a view prevailing is that LTCL from such shares where STT has been paid cannot be adjusted against any LTCG from any source. Further, the said LTCL cannot be carried forward to the next fiscals for the purpose of set off against the future capital gains.
Since LTCG on listed shares where securities transaction tax (STT) has been paid is exempt from income tax, a view prevailing is that LTCL from such shares where STT has been paid cannot be adjusted against any LTCG from any source. Further, the said LTCL cannot be carried forward to the next fiscals for the purpose of set off against the future capital gains.
12 September 2014
Yes you can carry upto 8 A.Y. U/s 74
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