Set off of income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 September 2013
My Company is having Loss u/sec. 111A on Short term capital sale of Equity Shares of Rs.70,00,000 and having short term capital gain on sale of Building from Block of Rs.72,00,000.
Can the gain be setoff against the Loss.
Can the gain be setoff against the Loss.
05 September 2013
No. You can not set off Sec. 111A loss against any other Income except Short Term Capital Gain.
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 September 2013
Dear,
Glad to have your reply, But as per sec 70 the same can be done.
Any section or reference to our reply.
Glad to have your reply, But as per sec 70 the same can be done.
Any section or reference to our reply.
06 September 2013
Such STCL can be set off against any capital gains whether STCG or LTCG only.
By virtue of section 70 and 74..
By virtue of section 70 and 74..
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