Taxation question and query on Capital Gains

POSTED BY Umashankar ON March 25, 2014 1:20 pm COMMENTS (2)

In FY 2013-2014, I have made a short term capital gain of Rs. 9500/- in Stock  whereas I have made a long term capital loss of Rs. 30,000/- in Mutual Fund. That means a net capital loss of Rs. 20,500/- in this current FY.

My query –

1. Let me know whether I will have to pay any tax on short term gain.

2. Let me know whether I can adjust the loss against short term gain in next 8 FY.

2 replies on this article “Taxation question and query on Capital Gains”

  1. ashalanshu says:

    Dear USctty, you can not set off LTCL against STCG. From which MFs you booked your LTCL? Yes you need to pay tax on STCG from Stocks @ 15.45%.

    Thanks

    Ashal

  2. usctty1970@gmail.com says:

    Hi
    Can anyone guide me with an answer ?

    Regards,

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