Is this benefit available against Short Term Capital Gains?

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• I have a loss under the head of 'Short term capital gains'. Can I set it off against income from salaries?

  No. It cannot be set off against income from salaries. It can be set off against short term capital gains or long term capital gains only.

• I have a loss under the head of 'Long term capital gains'. Can I set it off against income from salaries?

  No. It cannot be set off against income from salaries. It can only be set off against long term capital gains.

• Capital Gain

  Capital gain is termed as profit received from the sale of real estate, bonds and golds, where sale price exceeds the purchase price. Capital gain is negative if the purchase price exceeds sale price and it is termed as loss. The losses can be set ...

• Can I claim exemption under any other section if the I invest the capital gains from sale of property in any other asset?

  Yes. If within six months the assessee invests, the capital gains in long term specified bonds (REC & NHAI bonds) issued by the government for a minimum of five years, then these capital gains will be exempt from tax u/s 54EC. However, the capital ...

• What is Capital Gains Account Scheme?

  If you have a profit from sale of a residential house and you have not invested these profits in another asset before due date of filing return, then such an amount of capital gains needs to be deposited in the Capital Gains Account Scheme before due ...