WebFeb 6, 2024 · The taxpayer can carry forward the remaining loss for 8 years and set off against future STCG and LTCG only. If the taxpayer has income from the sale of some listed equity shares and securities, and profit from other listed equity shares and securities, only net gains are taxable at 15%. WebIf you have incurred a long term capital loss on selling shares or equity mutual fund units after 31.3.2024 then you can set them off against any LTCG. As profits/gains on long term shares or equity funds are now taxable in excess of Rs.1 lakh. Also, you can carry forward these losses for setting off in later years up to 8 assessment years.
How to set-off short-term capital gains? - The Economic Times
WebJun 9, 2024 · Losses from Speculative business will only be set off against the profit of speculative business only. One cannot adjust the losses of speculative business with the income from any other business or profession. Long term capital loss can be set off against long term capital gain only. WebApr 5, 2024 · You can set off FnO losses against capital gains (both STCG & LTCG) in the same year only, ie, the loss and profit of the same year. Meaning, you cannot set off FnO … how far will an emp reach
Both long- and short-term loss can be set off against long …
WebAug 29, 2024 · Income under the head Capital Gains = Rs 1,40,000 (STCG) & Rs 1 Lacs Losses of Long-Term which will be carried forward. iv) Normal Business Loss of Rs 6 … WebApr 1, 2024 · 1. Intra Head Adjustment (section 70) – It means loss from one source of income can be set off against income from another source but in the same head of income. 2. Inter Head Adjustment (section 71) – It means loss under one head of income can be set off against income from another head of income but in same previous year*. Exceptions : 1. WebThe ld CIT (A) has erred in not appreciating the fact that provisions under section.72 of the income tax act 1961 allows only business loss to be set off against business income and provisions u/s.74 of the income tax act, 1961 allows … how far will apple airtags work