Loss on government bond
This query is : Resolved
16 July 2014
If A Ltd has purchased Govt bond in December,2013 @ Rs.1050.
The said A Ltd has received interest of Rs.45 on the same in Feb,2014.
Now, the Govt bond is sold @ Rs. 1010 and there is a loss of Rs.40. whether this loss will be treated as Short term loss ? What would be the empact of Rs. 40 as per income Tax Act.
Many many thanks.
The said A Ltd has received interest of Rs.45 on the same in Feb,2014.
Now, the Govt bond is sold @ Rs. 1010 and there is a loss of Rs.40. whether this loss will be treated as Short term loss ? What would be the empact of Rs. 40 as per income Tax Act.
Many many thanks.
17 July 2014
yes its short term loss only and u can set it off against any capital gain.
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