Short Term Capital Loss surrounded by Equity Shares?
I am an employee of MNC and hold incurred short term income loss of Rs 20850/- in share trading this financial year, could you please support if I can offset entire short occupancy loss amount with my proceeds from salary, I enjoy already paid 18500/- as export tax on salary income.
Answers: You cannot set off the shares short residence capital gain losses from your salary income.
Hi Thinker,
I am afraid, you can't compensate it against your salary income. As per income duty rules, short-term capital loss can be work against against short-term capital gain only. If you enjoy any short-term capital gain, you can cancel out this loss against that gain. But otherwise, you will have to settle the 18,500 tax within full.
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Answers: You cannot set off the shares short residence capital gain losses from your salary income.
Hi Thinker,
I am afraid, you can't compensate it against your salary income. As per income duty rules, short-term capital loss can be work against against short-term capital gain only. If you enjoy any short-term capital gain, you can cancel out this loss against that gain. But otherwise, you will have to settle the 18,500 tax within full.