9911796707
TMI BlogSet off of loss on blockX X X X Extracts X X X X X X X X Extracts X X X X ..... Set off of loss on block X X X X Extracts X X X X X X X X Extracts X X X X ..... thstanding S.2(42A).S.71 and 74 has to be ead with S.2(42A). Therefore, deemed STCG u/s 50 which is really on transfer of a long-term asset, can be set off against other LTC Loss. Similarly deemed STC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Loss u/s 50, which in reality is on transfer of a LTCa asset can only be set off aginst LTC gain on other assets. Suppose block I is fully long-term and on that there is loss. Block II is short term ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and long term both and there is gain. Whetehr the loss on Block I can be set off against Block II gains. Whether Loss on Block I can be set off against gain on any other capital asset, becasue it is d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eed as short term u/s 50. Possible view is that S.50 apply only in case of gain and not in case of loss. and that for S.71 and 74 period of holdig is to be considered even while considering set off of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... loss in one block and gains in other block where in both block S 50 apply.
Reply By Rama Krishana:
The Reply:
You are requested to please put your own views with example. X X X X Extracts X X X X X X X X Extracts X X X X ..... wledge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
