If there is Short term Capital loss in shares (111A) can it be set off against normal Short term capital Gains?? and vise versa..
plz justify.
Bala
(Student)
(498 Points)
Replied 10 March 2010
You can set off STCL on shares u/s 111A with STCG and vice versa it is as per sec 70 for current year loss and as per sec 74 in case of B/f losses
KRISHNA PALLAVUR
(CA FINAL)
(79 Points)
Replied 11 March 2010
C.Balaji
(Learner)
(1867 Points)
Replied 11 March 2010
Yes........STCL can be set off against any Capital gain..........
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 11 March 2010
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