File Re­turns in Time to Carry For­ward Losses

The Economic Times - - Money -

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?

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