Set off and carry forward of Capital Gain under Income Tax

• March 16, 2020
• CA Chandan Agarwal's Office

Every loss is a Asset in some or other way !!

Amidst the current economic turmoil going on globally on account of the disruption in the supply chain and economic stillness for a period, there are certain inconspicuous benefits in terms of capital gains tax under the income tax provisions which if planned well may benefit to an extent depending on the income profile and the tax brackets of the person.

A summary of provisions dealing with set off and carry forward of Capital Gains under the Income Tax Act are discussed below :

Capital Gains are of two types :-

1) Short Term Capital Gains :- Gains arising from

a) Sale of listed securities – Sold within 12 months

Read more on: https://taxguru.in/income-tax/set-carry-capital-gain-income-tax.html