trading/investment loss - can be compensated , how ?

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  1. bblalgupta

    bblalgupta New Member

    I suffered loss on share trading to the extent of Rs 23000/- during last month .
    I sold some earlier purchased share below purchase value and suffered a loss in this process to the extent of 12000/-

    I am a pensioner and does not have any other source of income except pension and interest on Bank fixed deposits.

    Now my query is whether I can set off my loss of Rs 35000/- from my current year income ?
    OR is there any mechanism to set off this loss in future years ?
    How I should show this loss while submitting ITR 1 . One of my friend told me that i should file ITR 2 and get this loss adjusted in future years .

    Please guide

    Thanking you

    yours faithfully
    B B L gupta
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    If it is a Short Term Capital Loss, it can be carried forward and set-off in future years.

    If it is a Long Term Capital Loss, it cannot be set-off in future years even after carrying forward
  3. gaurav_kumar

    gaurav_kumar Well-Known Member

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