LTCG adjustment
This query is : Resolved
28 February 2009
hello,
i have a query, pls help me with it.
I have LTCG of Rs.2 lakhs (after indexation)from sale of shares of an unlisted company. I have also meanwhile sold physical shares of a listed company through direct sale to my cousin, i the process acuiring a loss (due to indexation) of Rs1.5 lakhs; this transaction has obviously not suffered STT but is of a stock that is listed but not compulsorily demated. I want to know:
1. If this loss is adjustable against the first gain, if so any sections that confirm this,
2. LTCG is exempt for all transactions of shares that are listed in a stock exchange or only on those transactions of such shares which have been undertaken through the stock exchange and suffered STT.
Please advice.
Regards
i have a query, pls help me with it.
I have LTCG of Rs.2 lakhs (after indexation)from sale of shares of an unlisted company. I have also meanwhile sold physical shares of a listed company through direct sale to my cousin, i the process acuiring a loss (due to indexation) of Rs1.5 lakhs; this transaction has obviously not suffered STT but is of a stock that is listed but not compulsorily demated. I want to know:
1. If this loss is adjustable against the first gain, if so any sections that confirm this,
2. LTCG is exempt for all transactions of shares that are listed in a stock exchange or only on those transactions of such shares which have been undertaken through the stock exchange and suffered STT.
Please advice.
Regards
28 February 2009
Yes.
You can adjust the loss against your gain.
LTCG is exempt u/s 10(38) if both conditons are satisfied:
1.Sale is through regonized stock exchange
2.STT is paid.
You can adjust the loss against your gain.
LTCG is exempt u/s 10(38) if both conditons are satisfied:
1.Sale is through regonized stock exchange
2.STT is paid.
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
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Gift Received from nonblood relative
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Rental income gst and it purpose
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- 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
- 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
