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Adjustment of short term capital loss from shares

Ajay Singh (Senior Accountant) (97 Points)

02 August 2011

Hello Everybody

Can brought forwarded short term capital loss from shares be adjusted against long term capital gain from sale of any assests {except LTCG from shares (STT Paid)]? Please explain the income heads against which we can adjust the short term capital loss from shares.

Kindly reply asap

Thanks

Ajay Singh

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3 Replies

CA R K SINGH (CA CS FINAL CMA INTER) (372 Points)
Replied 02 August 2011

Broght forward short term capital loss can be adjusted against Taxable Long Term capital gain or short term capital gain of current assessment year. Short term capital loss can be carried forward upto 8 Assessment years provided you have filed return showing loss within due date under section 139(1) of IT act. The short term capital loss should be adjusted against the INCOME UNDER THE HEAD CAPITAL GAIN. The loss remaining after set off can be carried forward for remaining assessments years of 8 years

CS,CA F,Numrologi TusharSampat (CS CA F Numerologist Astrologer Graph) (85935 Points)
Replied 02 August 2011

Originally posted by : R K SINGH
	Broght forward short term capital loss can be adjusted against Taxable Long Term capital gain or short term capital gain of current assessment year. Short term capital loss can be carried forward upto 8 Assessment years provided you have filed return showing loss within due date under section 139(1) of IT act. The short term capital loss should be adjusted against the INCOME UNDER THE HEAD CAPITAL GAIN. The loss remaining after set off can be carried forward for remaining assessments years of 8 years

sieaus (BBB) (125 Points)
Replied 17 July 2014

I had STCG (loss) in AY11-12 (say 20000/-) & AY12-13 (say 60000/-) which I had shown in ITR-2. Further I had STCG (gain) in AY13-14 (20000/-) which I had set off against earlier years losses. Now when I am filling ITR-2 for AY14-15 in which I do not have any STCG (gain or loss), how much amount out of @ 20000/- in AY11-12 and 60000/- in AY12-13 will be my carry forward loss in AY14-15 and in which section I need to fill all those figures. If I mention 20000/- & 60000/- in CFL in relevant rows, it shown 80000/- carry forwrad which is not the case because I have already set off 20000/- in AY13-14 and I have only 60000/- effectively to carry forwrad. How I fill ITR-2. Please help.