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Sanjeev

Sanjeev Govila  | Answer  |Ask -

Financial Planner - Answered on Feb 10, 2024

Colonel Sanjeev Govila (retd) is the founder of Hum Fauji Initiatives, a financial planning company dedicated to the armed forces personnel and their families.
He has over 12 years of experience in financial planning and is a SEBI certified registered investment advisor; he is also accredited with AMFI and IRDA.... more
Atul Question by Atul on Feb 02, 2024Hindi
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I lost 6 lakhs in share trading,, shall i reduce this amount from my overall income to get net income for ITR purpose.

Ans: There are many kinds of stock trading and depending on what exactly did you do, your tax liability will be calculated including whether your loss can be set off against anything else.

In general, you cannot set off your loss against your income in the way you have written. Please consult an income tax expert, a CA or a financial planner.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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