Set off short term loss against long term capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 September 2011
dear Friends
I have some Short Term Speculation Lossses , Where I am not Able to Pay & to Pay these Losses , I have to take Either Loan from Bank or Sell-off some of My UNLISTED SHARES held for more than 3 years
will IT allow me to Set off Short Term loss against Long term Capital Gain form Unlisted SHares
pls advice
I have some Short Term Speculation Lossses , Where I am not Able to Pay & to Pay these Losses , I have to take Either Loan from Bank or Sell-off some of My UNLISTED SHARES held for more than 3 years
will IT allow me to Set off Short Term loss against Long term Capital Gain form Unlisted SHares
pls advice
05 September 2011
1. U have said it is speculation loss , then
speculation loss has to set off against speculation profit only, in that case u cannot set off loss against LTCG of shares.
2. If the short term loss is not speculative, it can be set off against income from unlisted shares.
speculation loss has to set off against speculation profit only, in that case u cannot set off loss against LTCG of shares.
2. If the short term loss is not speculative, it can be set off against income from unlisted shares.
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 September 2011
As LTCG for unlisted shares is @ 20% , eventhough short term losses for shares held less than a year , would IT allow SET OFF, due to diff tax structure
05 September 2011
Yes, Short term lossess can be set off against Long term capital gain
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