How To Pay Very Little Taxes
Profit from your losses
As rightly said you can even gain from your losses. On way to save yourself from paying some extra tax, your losses can be your gain.
If you have made short term losses on stocks, these can be adjusted against any short-term or long-term capital gains from the sale of property, gold or debt funds.
Short-term capital losses can be set off against both short-term capital gains as well as taxable long-term capital gains.
Some conditions are set here, you should file your tax return before 31st July and one cannot set off short-term gains from stocks against long term capital losses from other assets.
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