Set off of stcg against loss from house property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 May 2016 DEAR SIR,

AN ASSESSEE HAVING 1.LOSS FROM HOUSE PROPERTY
2. INCOME UNDER BUSINESS
3. SHORT TERM CAPITAL GAINS TAXABLE AT 15% AND (STCG)
4. INCOME FROM OTHER SOURCES.

IN THIS REGARD MY QUERY IS WHETHER SUCH ASSESSEE BEING IN 10% SLAB CAN AVAIL THE BENEFIT OF SET OFF OF SUCH STCG AGAINST SUCH LOSS FROM HOUSE PROPERTY.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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23 May 2016 Short term capital gains can not be set of With any other income other than capital gains, so you can not set off house property loss with STCG.