Loss of personal capital
This query is : Resolved
30 August 2012
OBJECTIVE: Setoff Short Term Capital Loss against LTCG from sale of Property
Proprietor invests captial (Capex) from personal savings in Business of Trading in Equity Shares. Incurs losses under 2 heads: 1. STCL in Equity Trading
2. Expenses like Internet, Telephone, Brokerage Charges, Books, Electricity etc.
Can Proprietor show (2) as ST Capital Loss i.e. Loss of personal Capital.
Thanks in advance.
Kapil
Proprietor invests captial (Capex) from personal savings in Business of Trading in Equity Shares. Incurs losses under 2 heads: 1. STCL in Equity Trading
2. Expenses like Internet, Telephone, Brokerage Charges, Books, Electricity etc.
Can Proprietor show (2) as ST Capital Loss i.e. Loss of personal Capital.
Thanks in advance.
Kapil
01 September 2012
Yes he can claim the expenditure.
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