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Income Tax Return 2021: Lost money in stock markets? Check if you can set it off against salary income
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There has been a massive increase in the number of people investing and trading on the stock markets recently. As the Income Tax Return filing season is on, it is important to know if losses made in the stock market can be shown against the salary income.
According to Abhishek Soni, Co-founder and CEO, Tax2win.in, losses made from the selling of shares or mutual funds cannot be shown against salary income. However, you can set off stock market losses against stock market gains and carry forward the remaining losses to the next financial years.
“Any loss incurred from sell of securities i.e. shares, mutual funds etc. cannot be set off against salary income. Stock market losses can only be set off against stock market gains and remaining loss
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