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,

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Join 1,60,000 email subscribers

FREE Video Lessons directly in your email daily

144 page PDF ebook with best articles from Jagoinvestor

Get future articles directly on your mailbox + updates


6 PART VIDEO COURSE

FREE 

 

 

You are subscribed for FREE Course now, Check your Email

CONGRATULATIONS

Join 1,60,000 email subscribers

FREE Video Lessons directly in your email daily

144 page PDF ebook with best articles from Jagoinvestor

Get future articles directly on your mailbox + updates


6 PART VIDEO COURSE

FREE 

 

 

You are subscribed for FREE Course now, Check your Email

CONGRATULATIONS