Hey if i had ST Cap loss in both-current year and last yr.
And I have a STCG in current yr.
then which STCL i will set-off 1st-current yr or last yr.???
Please give source as well.
Thanks
CA. Kunal Lakhotia (ACA) (1006 Points)
27 May 2013Hey if i had ST Cap loss in both-current year and last yr.
And I have a STCG in current yr.
then which STCL i will set-off 1st-current yr or last yr.???
Please give source as well.
Thanks
CA JATINDER KAPOOR
(JOB)
(305 Points)
Replied 27 May 2013
First STCG gain will set off against STCG loss of current year because u/s 70 first allow for set off and then allow for carried faorward of loss u/s 71