1 .I HAVE AGRICULTURAL LAND LOCATED IN VILLAGE PANCHAYAT LIMITS.THIS LAND IS COMPULSORLY ACQUIRED BY STATE GOVT .I AM GETTING CAPITAL GAINS ON THIS TRANSACTION.DI I HAVE TO PAY LONG TERM CAPITAL GAINS TAX ON THIS TRANSACTION.
THIS LAND HAS BEEN AQUIRED IN AUG 2009. AND COMPENSATION WILL BE PAID IN APRIL 2010. IN WHICH ASSMT YEAR THE GAINS TO BE ACCOUNTED FOR. IF AT ALL CAPITAL GAINS TAX HA S TO BE PAID.
2. I HAVE NET SHORT TERM CAPITAL GAINS ON SALE OF SHARES (STT PAID) AND NET LONG TERM CAPITAL LOSS ON SALE OF SHARES (STT PAID) IN THE SAME ASSMT YEAR. CAN SHORT TERM CAPITAL GAINS BE SETOFF AGIANST LONG TERM CAPITAL LOSS.
3.CAN LONGTERM CAPITAL LOSS ON SALE OF SHARES (STT PAID) BE CARRIED FORWARD FOR NEXT 8 YRS TO BE SET OFF .