INCOME TAX
RAJEEV KUMAR MEHTA (Business) (340 Points)
02 January 2021
Can I write off delisted and non trade-able shares and claim long term loss?
5 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 02 January 2021
Long term loss can be set off against capital gain and speculation activities can be set off against only such speculation income not on other income or carry forward the loss for maximum 8 years
RAJEEV KUMAR MEHTA
(Business)
(340 Points)
Replied 02 January 2021
Thanks for responding! Point made by you is clear but whether delisted and/or non tradeable shares can be written off in books and lon term loss arising out that can be set off against long term loss?
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 02 January 2021
Yes long term loss can be set off against such income and can be written off
RAJEEV KUMAR MEHTA
(Business)
(340 Points)
Replied 02 January 2021
Thanks. So delisted/non tradeable shares can be written off and long term loss arising out of that can be set ff against long term gain.
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