Wash sale

                Unlike wash, a wash sale defines a situation, when certain securities have been sold at a loss and repurchased sooner or within a specified period. In India, to prevent the tax payers from showing unnecessary share losses, a 30 day limit has been inserted. i.e, If the stock is repurchased 30 days before or after the sale resulting in the loss, then the sale resulting in loss will not be considered as loss for the purpose of computation of total income.