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????
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Stcl on sale of fixed asset
Replies (4)
it can be.
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
it can be.
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
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