Can i show stock market capital losses held more than one year

Hi

No, claiming such capital loss is not possible since the holding period is more than 12 months.

Currently, long term capital gains are exempt from taxes.

If the stocks are sold after 31st March 2018, and the profit exceeds Rs. 1 lac, then tax would be applicable and set off of losses would be possible.

Capital losses on stocks held for more than a year cannot be set off against any income.

Regards,

Nikhil

Long term capital gains as of now are exempt from tax.

Regards,

Nikhil

You can not set-off capital losses against the following heads of income;

Income from Salary

Income from Business or Profession.

Income from house property

Other sources of income

Capital losses can only be set off againsed the capital gains.

stocks held for more than one year will be long term.

long term capital losses can only be set-off against long term capital gains

long term loss on stocks can generally cannot be set-off as the long term gain was used to be exempt u/s 10(38)

however the ITAT (Mumbai) have decided just contrary to the above and has held that long term loss of STT paid shares & mutual funds eligible to set off.

Dear Sir,

Profits and losses in case of stocks is recognized at the time of sale only and not on holding them. In Budget 2018, LTCG will be taxable @10% on the difference between sale value and market value on 31.01.2018 if you will sell them in 2018-19. Try to sell them before 31.03.2018 to get the exemption.

Hi,

Income Tax Laws in India allow set-off of Capital Loss only from the head Capital Gains. Short Term Loss can be set-off against both Long Term as well as Short Term Gains, whereas, Long Term Loss can be set-off against Long Term Gains only.

In case you are not able to set-off the same in any particular assessment year, you can carry-forward the same for next 8 assessment years.

However, there is an important catch in that. Since Long Term Capital Gains arising from trading of shares on recognized exchanges where STT is paid, are exempt from Tax (till this year though), similarly Long Term Capital Loss arising on trading of such shares is also a dead loss. This cannot be carried forward but only allowed to be set-off against Long Term Gains of same AY only.

As such, looking at your case, you can sell the shares on which Long Term Gains will arise in same year to set-off the same against Long Term Losses of same year. This is so because Long Term Losses will not be allowed to be carried forward for next year.

Hence, suggestion is to book profits to adjust losses. But advisable is to calculate net gain or loss in all the scenario tests and then take some action.

Regards.

Long term capital loss on shares can be set off from long term capital gain of same year only.

So it is advisable to book profit and take set off of lossess.

Further if u sell stock aftr 31 march 2018 then profit above 1 lacs on sale will be taxed as per budget 2018.

Hi Hari,

You can't show losses if you sale the stocks before 31 March 2018 because any profit/loss on equity shares sales is exempt till March 2018.