As per sec. 10(38) of Income Tax Act  Long Term Capital Gain on shares will be exempt if STT is paid on Sale and Buy Transactions. Further Gain includes negative gains also. Which means LTCL of Sec. 10(38) Can also not be Carried forward.

Further no loss other than of head House Property can be adjusted with Salary Head.

So, Friends sorry , There is no treatment of this loss.

hi.

loss from sale of shares shall be set off against only capital gain. if in this FY having not any capital gain then this lose can be carry forward to next year. and then set off next year.

You cannot setoff Capital loss from salary income only loss under head house property can be set off from salay and unabsorbed depreciation under sec32 of income tax act 1961 also setoff from salary income.

colclusion:- You can not setoff share trading loss against salary income it is against the law.

Dear Amir,

Nice to see you back in the Forum.I'm not a qualified accountant but need to keep myself updated on I.T. rules and regulations for my personal filing of Returns,investments etc.To tell the truth,your replies are so incisive and analytical that whenever I pose a question, I sincerely hope that you would also give your response to my query (but unfortunately, thus far I've not been lucky - I'm sure it must have been because my queries were too simple and basic in nature and you must have deemed it not worthwhile to respond to).Nevertheless, I love to read your replies.In my opinion, You are like the actor Amir Khan (whose face you use as your identity) - the same intensity in getting into the skin of the issue and an intelligent interpretation of the laws.Though you are humble in calling yourself a learner,Amir,I can assure you that there are persons like me who are learning from you.And I'm not an youngster - in a few years I shall be a Senior Citizen!!!

Keep up the good work and God Bless.

Yessss balaji sir.....I do agree with you....

Amir keeep up the good work...........and I wish you give interpretetions of law like this forever.......

Dear Balaji Sir,

Thanks for all those kind words and giving encouragement............:)

Trust me Sir, its not that I ignore any question just because it is simple, but Yes If other members have already expressed their views on sumthing which I suppose has resolved the issue then no point in picking up the things again. 

What could be another reason for me not answering to ur queries is "may be I didnt knw d answer" n what u r saying that "simple" may not be that "simple for me"

Sir, If I had not replied to ur queries then trust me the sufferer is only me becos I lost the chance of learning from ur doubts..

AAMIR KHAN well Sir dont u think that is too much, but I  dont mind actually........:)

Wish you all the Best n in future it wil be my sincere efforts to post reply to ur queries...:)

Thanks,dear Amir.And trust me,I NEVER falsely praise anybody or give credit where it is not due.I have been so impressed with your answers and analytical skills that I had even sent you a PM(some days back).And the comparison to Aamir Khan is genuine-everytime I read your replies,I can't but think of the actor who is equally brilliant.Just for my knowledge,are you a practising C.A.?(Amir,you may choose not to answer this to protect your privacy but I know one thing for sure-if you are one,your clients are in safe hands