jaggu
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Can the loss on account of forfeiture of share application money be treated as short-term capital loss?
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veeru
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As capital gain arises when you sold some assets (here shares) which you purchase not for the purpose of resale.
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PURUSHOTTAM MUNDHRA
answered
No. Forfeiture of share application cannot be treated as capital Loss.
As capital gain arises when you sold some assets (here shares) which you purchase not for the purpose of resale.
Forfeiture of money arises when you didnot perform your commitment which you commit at the time of agreement.
