WebNov 23, 2024 · As per the provisions of income tax law, LTCL can be set off against LTCG. Further, STCL can be set off against both short-term capital gains (STCG) and LTCG. 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 …
Taxation of Income Earned From Selling Shares State of NJ
WebApr 12, 2024 · STCL can be set off against both Short Term Capital Gain (STCG) and Long Term Capital Gain (LTCG). If there is any remaining loss, it can be carried forward for up to 8 years and set off against ... WebOct 22, 2024 · Section 70 (2) of the Income Tax Act provides that short-term capital loss (STCL) can set off against short-term capital gain (STCG). This section does not make any distinction between... photo singe hurleur
How short term capital loss can be set off against capital gain ...
WebLoss from F&O trading is treated as non-speculative business loss subject to fulfillment of conditions laid down in Section 43(5) of the IT Act. Non-speculative business loss can be set off against any income other than salaries. So it can be set off against capital gain. WebMay 11, 2024 · The loss from Speculative business can be set off only against Speculative Income The loss incurred in speculation business can be carried forward to the subsequent year and set off only against the profits of speculation business. Loss from Speculative Business can be carried forward for 4 years. WebFeb 8, 2024 · Loss set off against Profit. Tax Liability. Rs. 1,125. [15% of Rs. 7,500 (257500-250000)] The trader can thus reduce the tax liability by doing Tax Loss Harvesting. … how does socrates define goodness