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pitamber rout (propritor)     30 July 2016

Long term capital gain from share

plese throw some light for below question.

i incured loss in shares after holding it for 15 months, total loss is 2.98 lakhs. if this long term capital gain LOSS is allowed to set off against long term capital PROFIT IN FUTURE.

i am filling itr -2 and a investor in share market. not doing spectulative trading of Future & option. trading.

plese some body answer my question.



 3 Replies

adv.bharat @ PUNE (Lawyer)     31 July 2016

Yes you can set off the above losses for your long term capital gain for current FY.

balas (Chartered)     31 July 2016

Hi,

I presume you have traded on stock exchange and have paid Sec. transaction tax.

Yes it is long term capital loss. (LTCL)

You need to file ITR2

You can carry forward the LTCL to next year and offset against LTC Gain. LTCL can be carried forward for 8 Assessment Years.

 

Balaji Srini FCA., LL.B.

Ms.Usha Kapoor (CEO)     12 August 2016

LONG TERM CAPITAL GAINS ARE TOTALLYEXEMPT FROM TAX. HOWEVER YOU CAN SET OFF LONG TERM CAPITAL LOSSES AGAINST LONG TERM CAPITAL GAIN PROFITS/


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