Capitalise on losses: Save on capital gains

Economic Times 29/03/2009

Once done, if you have made profits on certain assets (as a result of which you are liable to pay tax), then you must evaluate the performance of your short-term assets. "If these assets are, in any case, not likely to fetch a profit in the foreseeable future, then you must dispose them and book losses to set off such losses against the gains computed from the sale of other capital assets," advises S Gayathri, partner, tax & regulatory services, Walker, Chandiok & Co.