Set off on asset
karthiga (Article assistant) (66 Points)
01 July 2015
whether loss on sale of car can be set off against any income.??
1 Replies
Jaspal Singh
(Practising CA)
(449 Points)
Replied 03 July 2015
The loss will eventually go under Capital Gains whether be long term or short term..
And is not eligible for set off with any other head of income.
However if it is a short term loss it can be set off against long term capital gains..
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