Can the Deemed STCL arised on sale of depreciable fixed asset(When Block Ceases) can be set off against business income or it can be set off only against capital gain????
CA Pankaj Ranawat
(Assistant Manager)
(86 Points)
Replied 24 February 2012
In my view stcl can be set off against long term or short term capital gain only.. And there is no concept of deemed stcl... Correc me if I am wrong
So stcl can not be set off against business income
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 26 February 2012
It can be set-off against teh business income. if any STCL still remains after set-off, it is required to be c/f & c/f STCL can be set-off only against STCG or LTCG. However LTCL can be set-off only against LTCG
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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