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Long term capital gain

Malhar Deshpande (212 Points)

12 May 2017

Can long term capital gain in shares where stt is paid set off with long term capital loss in share with stt paid

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20 Replies

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 12 May 2017

Capital gain on shares on which STT paid is exempted u/s 10(38)

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (166365 Points)
Replied 12 May 2017


	Can long term capital gain in shares where stt is paid set off with long term capital loss in share with stt paid

YES, for same financial year!

Studentsca (CA Practice ) (3577 Points)
Replied 12 May 2017

No it cannot be set off because Government does not impose any tax on Long Term Capital Gain where STT is paid hence no benefit for the Government where assessee earns LTCG. Entire Gain bekongs to the assessee. Similarly when the assessee incurs Long Term Capital Loss it is to be borne by the assessee only and he cannot claim set off.

manoj (student) (5205 Points)
Replied 12 May 2017

LONG TERM GAIN IS EXEMPTED IF STT PAID

S.K.Jha (student) (265 Points)
Replied 12 May 2017

Dear Malhar Sir,

Long Term Capital Gain on shares on which STT is paid is liable to tax @ 15% u/s 111A.

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Malhar Deshpande (212 Points)
Replied 12 May 2017

Thank you Sir. Sir I made long term capital gain of rs 12000 by selling shares of one company and long term capital loss of rs 4000 by selling shares of another company in same financial year, in both cases stt paid, then while showing gain in itr form should I write long term gain as 12000 or as 8000 please advice