Ganesh incurred short term capital loss of ₹80,000 on sale of shares during the previous year 2021-22 through the national stock exchange. Such loss can be :

CS Executive · Tax Laws · PYQS · June 2022
Ganesh incurred short term capital loss of ₹80,000 on sale of shares during the previous year 2021-22 through the national stock exchange. Such loss can be :
(A) Set off against short term capital gain
(B) Set off against short term and long term capital gain
(C) Not be allowed to set off
(D) Set off against long term capital gains

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax Act, 1961

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