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Short term capital gain

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(Querist)
25 February 2008 whether STT paid short term capital loss is used for setoff purpose
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
25 February 2008 OF COURSE,IF THERE IS SHORT TERM CAPITAL GAIN ON WHICH STT HAD BEEN PAID IT CAN BE SET OFF .
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
25 February 2008 Section 71(2) allows the loss under any head of income and assessee has income under the head Capital gain (whether short-term or long term, these two can be set off.
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