POSTED BY September 13, 2011 11:56 pm COMMENTS (5)ON
Recently there was a discusion in the forum on selling and buying back on same day in Equity MF to transfer a fund to another person name.
I have a question with respect to Short term captial loss in connection to this.
Assume i have invested 1 lakh in a MF in April and it is down -10% by December .
Now i sell and buy back this MF on the same day. Which will not invlove any additional cost for me. Can i show this Short Term Captial Loss in my income tax to compensate for the Short term captial gain obtained elsewhere(shares,other MF etc)?