Set-off of STCG

VARUN RANJAN (Student) (231 Points)

09 October 2020

can STCG on. block sale of Assets be set-off against business losses in case of Companies?

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3 Replies

Pallavi P (Job) (151 Points)
Replied 09 October 2020

Yes...You can set off Business losses with Capital gains.

So in your case you can set off Business losses with STCG

VARUN RANJAN (Student) (231 Points)
Replied 09 October 2020

Is this APPLICABLE for COMPANIES TOO?

Pallavi P (Job) (151 Points)
Replied 09 October 2020

There is no separate provisions for company & non company assesses for set off of losses under Income tax Act.

My opinion is that , it is applicable to companies also & you can set off STCG & business loss .

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