Short term capital loss

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 February 2013 1)can short term capital loss on sale of shares be adjusted against short term capital gain on sale of residential flat.
2)can short term capital loss on sale of shares be netted off for arriving at total taxable income or to be carried forward to next year.

CA Mohan Jain

CA Mohan Jain (Expert)
Follow

28 February 2013 1) Yes absolutely STCL can be set off from STCG (If Long term loss on sale of share is there same can not be set off coz Ltcg is exempt from tax)

2)Yes can be done