POSTED BY June 26, 2013 5:55 pm COMMENTS (2)ON
For Financial year 2012-13 I had short term loss of 32000 and long term loss of 15000 ( Shares & Mutual funds transactions). As per my understanding I cannot carry forward Long-term Capital Loss on equity shares, while I can carry forward my Short-term Capital Loss. Please correct me if my understanding is wrong.
I earned interest 16000 from my bank FDs for FY 2012-13 on which I need to pay income tax. I am in 30% income tax slab. I am filling ITR2 and I want to know can I make some combination of my losses & bank interest to reduce my tax liability.