RE:loss in secondary market
by sri krishna on Apr 28, 2007 11:03 AM Permalink
That depends on the head under which your income is categorised. If its "capital gains" then it is treated as follws.
Long term loss cannot be claimed-as you put it. Since long term gains on sale of shares is tax free, loss cannot be claimed.
Short term loss can be claimed against capital gain income arising otherwise than through shares.
If your share transactions are treated as business, then irrespective of the tenure of holding, losses can be claimed.
