CA Abhilasha Bhagat (ACA) (466 Points)
04 September 2014If a person sells listed shares offline in September,2014 having holding period of 2 years and long term capital loss is available, can it be set off against the gain arising on such transfer?
Or say, holding period of more than 12 months will be considered as long term for listed equity shares, despite of the fact that it is sold offline. (For Sept, 2014)
Gagan Deep Singh
(CHARTERED ACCOUNTANT)
(1190 Points)
Replied 04 September 2014
If u sold long term listed equity shares offline on gain then that gain is taxable and it can set off against long term capital loss.
CA Abhilasha Bhagat
(ACA)
(466 Points)
Replied 05 September 2014
Thank you. Just need to confirm whether holding period of 12 months will be considered for listed shares sold offline, even after budget 2014.
CAclubindia
