Capital gain
Rekha Bisht (64 Points)
15 February 2021
can long term carry forward loss adjusted against gain market linked debentures?
4 Replies
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 15 February 2021
Since this is a personal thing, yes. A loss can be set off from other sources of income.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 15 February 2021
It’s properly defined in section 70(1,2 &3). A) Since debentures are capital in nature but debt instrument, at amortised cost while the carry forward loss can be from speculation. B) If that is also a traded version, you can set off. Not sure about the option A.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 15 February 2021
https://learn.quicko.com/income-tax-bonds-debentures
What about issued debentures after amortisation? I guess that will not be considered as things are different between company and personal accounting
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