09 March 2008
What are u saying Mr hemant. How can the delivery base loss which is either a short term or long term be setoff agst other business loss.
3) Where in respect of any assessment year, the net result of the computation under the head “Capital gains” is a loss and the assessee has income assessable under any other head of income, the assessee shall not be entitled to have such loss set off against income under the other head.
HOEVER IF YOU ARE TRADING IN SHARES AND LOSS FROM SHARES IS BUSINESS LOSS .......SITUATION WILL BE DIFFRENT
10 March 2008
LOSS ON SHARES WHICH WERE IN DEMAT FORM IS DELIVERY BASED AND FORMS SHORT OR LONG TERM LOSS OR PROFIT . WHERE AS INTRADAY IS SPECULATIVE GAIN OR LOSS. BOTH CANNOT BE SET OFF AGAINST OTHER BUSINESS INCOME. R.V.RAO
CAclubindia
