Suppose I purchase 100000rs share using my wife[house wife]'s demat account. by selling this share we got rs30000 profit. I want to know that this income from share in wife demat acount will be considered as my income or my wife income ?Who has to pay tax? Can i show income of my wife ? Can I invest share using in my wife demat account for save tax?
RE:How to Adjust Short Term Capital Loss
by rohit on Sep 22, 2006 08:46 PM
hi, u cann't adjust the loss agahist ur salary income. however , u can set off this from any short term or long term capital gain like- sale of land,gold,shares ,machinery.But for this u have to submit the return of loss u/s 80 of income tax act 1961 for carry forward in subsequent years where u can claim this loss against any gain either from short or long term
