Have you tried our Free Financial Planner yet? Have you tried our improved Calculators yet? Check out our new Insurance Tutorial Check out our new Investment Tutorial

Capital Loss

Last post 02-03-2011 3:26 AM by chandu1928. 2 replies.
Page 1 of 1 (3 items)
Sort Posts: Previous Next
  • 02-02-2011 11:40 PM

    Capital Loss

    Dear Sir, This financial year 2010-11, I have booked a Loss in Equity market, I want to Know , Can I less these capital loss in my salary.
    • Post Points: 35
  • 02-03-2011 2:04 AM In reply to

    Re: Capital Loss

     @devender25681: Short-term capital loss canbe set-off against short-term and/or long-term capital gain only. Long-term capital loss can be set-off against long-term capital gain only.

    • Post Points: 5
  • 02-03-2011 3:26 AM In reply to

    Re: Capital Loss

    capital losses can only be set off against capital gains —--- other incomes like salary or business income cannot be used for set-off. Now, LTCL can only be set off against taxable LTCG. However, STCL can be set off against both STCG as well as taxable LTCG. after set off with current year profits if you still left with loss . such amount of loss can be carry forward and setoff is permissible for 4 assessment years immediately succeeding the assessment year for which the loss was computed. note: this loss can be carryforward only if the return is filed with in due dates u/s 139(1)
    • Post Points: 5
Page 1 of 1 (3 items)
Control Panel
Admin Console