14 June 2009
1.whether long term capital loss on sale of shares on which stt is paid can be set-off with long term capital gain on property, when both transactions held in same year?
2.whether intt. on fixed deposit of 5 yrs. or more is taxable or not?
Long term capital gains are not chargeable to tax by virtue of section 10 and hence if asset is transferred at loss such capital loss is not taken into consideration.
2. it will be taxable year wise, on the basis of amount credited every year in yr account.
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