Capital gain
Rekha Bisht (64 Points)
15 February 2021
can long term carry forward loss adjusted against gain market linked debentures?
Rekha Bisht (64 Points)
15 February 2021
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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