Is it possible to adjust Short term loss on sale of shares against Short Term profit received from sale of house property
4 Replies
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 16 January 2009
If it is not a speculation loss then you can adjust
CA. Ashok shah
(CHARTERED ACCOUNTANT)
(333 Points)
Replied 16 January 2009
Yes, it can be set-off. Pl refer Sec.70.
Short term loss can be set-off against against any capital gain (Whether long-term or short term and whether from shares or any other capital assets)
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