Capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 April 2012 I have Long term capital loss on redemption of mutual funds. (STT Paid redemption)
so can i adjust or carry forward these losses???

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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21 April 2012 As STT paid LTCG/LTCL is exempt from tax, you can not c/fd it.
.
It will not have any tax impact whether or not ,you set off such capital Loss against the same type of LTCG i.e. STT paid LTCG.
.
It can not be set off against Normal LTCG
which is liable to tax @ 20%.
.

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