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.