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Tax liability

29 March, 2020, 08:54 AM IST

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TAX LIABILITY

How can I set off losses from share trading against income tax liability in current FY?

Short term capital losses are allowed to be set off against both long and short term gains. However, if you are not able to set off your entire capital loss in the same year, both short and long term loss can be carried forward for 8 assessment years.

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