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Tax

khishen shet (ca) (277 Points)

14 April 2012

If i have long term capital loss on shares or units of equity linked mutual funds against what can i set it off? all the shares are stt paid

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9 Replies

Vishaljeet Singh (( Expert )) (108 Points)
Replied 14 April 2012

long term capital loss can be set off only against LTCG(gain)....even if stt is paid..!

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khishen shet (ca) (277 Points)
Replied 14 April 2012

i know it can be setoff against long term gain but wich source?

Vishaljeet Singh (( Expert )) (108 Points)
Replied 14 April 2012

Under Capitan Gains source !

khishen shet (ca) (277 Points)
Replied 14 April 2012

but which source of capital gain shares and mutual funds exempt stt paid. so against wat source can setoff?

MD. RAFI (Manager Accounts (future CA)) (670 Points)
Replied 16 April 2012

Loss from an exempted source can not be set-off from a taxable source. So this loss can not be set-off nor can it be carry forwatd to be set-off in future.

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Raman Aggarwal (Expert) (363 Points)
Replied 21 April 2012

it can not be set off from any income since it is stt paid

khishen shet (ca) (277 Points)
Replied 21 April 2012

What happens if stt is not paid and sold through off market at a loss can the loss be setoff against other sources?

mridul savio Pinto (articled trainee ) (1477 Points)
Replied 21 April 2012

if stt is not paid it can be setoff only against ltcg ( gain ) . it is an exception for inter source & inter head adjustment

Raman Aggarwal (Expert) (363 Points)
Replied 23 April 2012

Originally posted by : khishen shet
	What happens if stt is not paid and sold through off market at a loss can the loss be setoff against other sources?