Setoff Business Loss from STCG

CA Navin Jain (MANAGER (FINANCE & ACCOUNTS)) (11768 Points)

28 November 2008

Can setoff the Business Loss From Short Term Capital Gain arising from sale of fixed assets?

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4 Replies

Rajat Kedia ACA CS MCOM (Assistant Manager) (613 Points)
Replied 28 November 2008

IF BOTH ARISE IN THE SAME YEAR THEN WE CAN DO SO

CA Chaitanya (PRACTISING CA) (4283 Points)
Replied 28 November 2008

Business loss can be set off against the capital gain.

Sandeep (Chartered Accountant) (29 Points)
Replied 29 November 2008

Yes, You can set off STCG against business loss in the same year.

Jeet Biswas (ACMA (in Service)) (5073 Points)
Replied 29 November 2008

thats right..

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