Losses Chapter- 14
Loss on Sale of antique – holding period 6 years
(Not to be recognized) -
Gain on disposal of capital assets 102,000
Sales of modaraba certificate – holding period 2 months 108,000
Sales of listed shares – holding period 11 months (99,000)
Income from securities (SBI) 9,000
Taxable income 342 , 000Note – 1 Speculation loss shall be carried forward for six succeeding tax years for adjustment against the
future speculation income if any. Gain of sale of securities shall be treated as a separate block of income.
Note – 2 Business loss has been adjusted against capital gain and not allowed to set off against salary
income.