Set off and carry forward of capital loss

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....et off and carry forward of capital loss<br> Query (Issue) Started By: - anil kalia Dated:- 31-5-2009 Last Reply Date:- 4-6-2009 Income Tax<br>Got 1 Reply<br>Income Tax<br>Whether any capital loss on ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the transactions not covered under section 10(38) or section 111A is required to be set off against income on transactions covered under section 10(38), to determine the carry forward loss to be yet o....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ff in future as per the provisions of Income Tax Act Reply By Mukesh Kumar: The Reply: Provisions of Section 74 read with section 70(2) of the Income Tax are being looked into so address the your qu....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ery. As per my understanding the loss incurred on a capital assets which is not eligible for exemption under section 10 or otherwise, there is no provision to set off such loss with the income which i....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s exempt from the tax under section 10 since it is not forming part of taxable income or gross total income.<br> Discussion Forum - Knowledge Sharing ....