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Capital gain and capital loss

Mahender Singh (STUDENT) (142 Points)

30 December 2020

can short or long term loss can be deducted from salary income while filling return???

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5 Replies

Chahat Bansal (226 Points)
Replied 30 December 2020

No, it can't be deducted

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Krishna Chaudhary (Accountant) (4531 Points)
Replied 31 December 2020

No, short term capital loss on long term capital loss can be adjusted only through intra head.

Smit Shah (524 Points)
Replied 31 December 2020

Further short term capital loss can be set off against STCG and LTCG but long term capital loss can only be set off against LTCG

Krishna Chaudhary (Accountant) (4531 Points)
Replied 31 December 2020

Short term capital loss can be set off against long term capital gain in the same year.but long term capital loss cannot be set off against short term capital gain in the same year. from the next year for what both can be set off against only with them.