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Set Off LTCL on unquoted share against LTCG of shares

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(Querist)
24 July 2009 Whether Long Term Capital Loss on sale of unquoted share can be set off against Long Term Capital Gain on sale of land.
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Ashish Shah

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Ashish Shah (Expert)
24 July 2009 Yes, this can be done as there is no specific provisions in the Income tax restricting the Long term loss on Shares to be adjusted against long term gains of others
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NITIN

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NITIN (Expert)
24 July 2009 Yes since as per relevant provision long term capital loss is set off against long term capital gain in same head



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NITIN

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NITIN (Expert)
24 July 2009 Yes since as per relevant provision long term capital loss is set off against long term capital gain in same head

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