I wanted to sell my DEBT MF on 27, assuming instant UN-pledge like equity, but I had to wait 1 day for the unpledge to show up in COIN.
Now I have sold my DEBT MF on 28 March, unaware of the fact that today, 31 March, is a settlement holiday.
So, will my Sell date be considered as 28/31 March or 1/2 or any other date in April? @Quicko
If it’s post 31 March, can I adjust my Booked profit from MF debt to Carryforward Buisness loss in the next year or is the window to adjust Current Year losses gone?
@harsh-sharma Hi, apologies for the delay. If the order was processed on 28th March, the trade date will be recorded as 28th March itself, regardless of the settlement holiday on 31st March. Therefore, the transaction falls under FY 2024–25.
The sale date will be the date on which you sold the mutual fund, which in your case is 28th March. Thus, you can include the loss from the same in your FY 24-25 ITR and if there is any loss remaining after set-off then you can carry it forward to the next year.
Hi @Quicko, a bit different query from the above, if I am not wrong, Business, dividend, interest and capital gains P/L nets off in the Current year. So let’s say I have -
Business loss of 10 lakh.
STGC, dividend and interest profit of 5 lakh.
And LTCG profit of 1 lakh (I should be exempt in theory).
So, my net carry forward loss would be 5 lakh or 4 lakh?
I am having mixed answers, someone saying you lose on LTCG part when you are in a net loss and vice versa.