anu (B.Com) (87 Points)
20 February 2014mr.y income as follows...py 2012-2013
loss from house property (-30,000)
income from salary 12,000
short term capital gain 80,000
long term capital gain (- 40,000)
brought forward loss from house property py 2011-2012 (- 20,000)...his gross total
income shall be for ay 2013-2014???
the anwer is 1,70,000
but i cant get the above answer pls help if anybody knw with clear step
DEVARAPU SREENU
(SREENU)
(77 Points)
Replied 20 February 2014
short term capital gain 80,000
salary 12000
total 92000
(-) house property loss fy 12-13 (30000)
total taxable is 62000
can you please see the chart
/forum/set-off-can-carry-forward-simplified-267811.asp#.UwYGpfmSx1Y
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 21 February 2014
how answer will be 170000 ? The total of positive figure does not exceed Rs 170000.. I think there is typing istake by you or may be answer provided by you is different answer or something is left...
Answer provided by Devarapu is correct..
LTC Loss can be set off only against long term capital gain..
House property loss of last year will carried forward and will be set off against Income from house property...
Last years house property loss and long term capital loss shall be carried forward
Mihir
(Wealth Manager)
(5293 Points)
Replied 21 February 2014
Yes, your answer is correct. It is Rs. 170,000/- You did not add zero in your salary income. It is 120,000 and not 12,000.
CAclubindia
