Skip to main content

I have incurred capital loss on sale of property / shares during the year. Should I inform my employer about this so that my salary income will be reduced when calculating the total taxable income, considering the capital loss?

Nine O Six

No, information about Capital Loss will be irrelevant for the employer.

Salary income is only eligible to offset losses from the head of House Property. Consequently, losses under other heads, such as Business Loss or Capital Loss, cannot be set off against salary income.

Related to

Comments

0 comments

Please sign in to leave a comment.