POSTED BY July 1, 2011 7:07 pm ONE COMMENTON
I just read your article about “How to use losses to reduce tax” – a very useful article indeed. I have two questions regarding this –
1. Can we claim for tax deduction for loss in shares against salary from employer (I dont have any capital gain from property/share/MF).
2. If a share/MF is purchased in, say, FY 2008-2009 and sold for loss in FY 2009-2010, can we claim tax deduction for this? (either against income or against capital gain).
I have incurred loss in shares in 2010-2011 but those shares were purchased in FY 2007-2008 and I dont have any capital gains from property/MF/Shares.
Thanks in advance,