Nifty linked debentures

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Accountant
44 Points Joined February 2010
Hi, For the Financial Year 2011-12, I have a Long Term Capital Gain from sale of Nifty Linked Debentures. I also have Short Term Capital Loss from sale of Equity shares. Can the Long Term Capital Gain from the sale of Nifty Linked Debentures be set off against the Short Term Capital Loss from sale of equity shares?

Read more at: /forum/m-sale-long-term-capital-gain-froof-nifty-linked-debentures-210864.asp#.UF7cnlGB3J7
Hi, For the Financial Year 2011-12, I have a Long Term Capital Gain from sale of Nifty Linked Debentures. I also have Short Term Capital Loss from sale of Equity shares. Can the Long Term Capital Gain from the sale of Nifty Linked Debentures be set off against the Short Term Capital Loss from sale of equity shares?

Read more at: /forum/m-sale-long-term-capital-gain-froof-nifty-linked-debentures-210864.asp#.UF7cnlGB3J7
Can the Long Term Capital Gain from the sale of Nifty Linked Debentures be set off against the Short Term Capital Loss from sale of equity shares?

Read more at: /forum/m-sale-long-term-capital-gain-froof-nifty-linked-debentures-210864.asp#.UF7dWVGB3J7
Can the Long Term Capital Gain from the sale of Nifty Linked Debentures be set off against the Short Term Capital Loss from sale of equity shares?

Read more at: /forum/m-sale-long-term-capital-gain-froof-nifty-linked-debentures-210864.asp#.UF7dWVGB3J7

For the F.Y. 2011-12 , i have a long term capital gain from sale of Nifty Linked Debentures and i have short term loss from equity shares.

Can the long term capital gain from sale of Nifty Linked debentures be set off against the last year and this F.Y year short term capital loss from equity shares?

Can the long term capital gain from sale of Nifty Linked debentures be set off against the last year and this F.Y year Long term capital loss from equity shares?

 

Please kindly guidance for tax audit

 

 

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On 23 September 2012 at 15:38 Report
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finalist
88 Points Joined September 2008

Dear TVVS Swamy,

As per my opinion the below can be analysed:

1. The LTCG can be set off with the STCL from the eqity shares both last and current yr. If it was the otherwise the same is not possible.

2. And there is an understanding,  where there can be LTCL arising from the sale of Equity oriented units which has suffered STT and which is exempt if the same was a Gain, cannot be set off with any other LTCG arising from sale of any LTCA. This is due to the fact dat if there was a gain the same is not taxable, i.e., Exempt u/s 10 and thus if there is a loss arising from the same there will be no benefit alloted n=by the Act. 

 

Regards,

Srikanth.M.S

 

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On 23 September 2012 at 17:29


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