Dear friends,
I have query regarding showing equity LTCG on which STT is paid. In current assessment year , I have both equity LTCG and STCG. on LTGC, as, usual , STT is already paid. Should I setoff these STCG against LTCG in ITR or show LTCG as exempt income?
with many advance thanks,
Amit
First of all it is not cleared whether u hav incurred STCL or LTCL.
1. If it is assumed that there is LTCG & STCL.
Now any LTCG on equity shares on which STT is paid will be exempted & any loss cannot be setoff from any exempted income, therefore u cannot setoff any loss from LTCG.
so you shall show the LTCG exempted income seperately in ITR.
CAclubindia
