PROFIT ON SALE OF LAND
This query is : Resolved
26 March 2009
I have incurred a short term profit of Rs 40 lacs by selling land whole block has been sold and on the other hand i have incurred a loss of rs.40 lacs in sale of shares held as investment in which stt has been deducted
Can the same two be adjusted
SUMIT
Can the same two be adjusted
SUMIT
26 March 2009
No, loss from speculation business cannot be setoff against any other income.
26 March 2009
NO setoff possible.
27 March 2009
no
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