File Returns in Time to Carry Forward Losses
I am an executive working in the private sector. I regularly invest in shares and report income under capital gains. I borrowed ₹ 10 crore from a non-banking finance company and made application in an IPO, and was allotted a few shares. I have paid an interest of ₹ 3 lakh. My salary income is ₹ 70 lakh and interest income from loan given is ₹ 4 lakh. Can I offset interest paid on borrowing for making application in IPO against salary or interest income? — NILESH ARORA July 20, 2017. I have earned capital gains of ₹ 8 lakh on sale of property in June 2017. Can I offset the loss suffered on sale of shares held for more than 5 years in AY 16-17 against gain on sale of property held for 3 years?