Long term capital loss
Querist : Anonymous
We made long Term Capital Loss on pvt. Ltd. share. Can we take set off in future if yes against what or how much period??
Thanks in advance.........
if it cannot be set off against current year, it can be carried forward for 8 years
Querist : Anonymous
If loss has arisen on the long term STT paid equity shares then long term capital loss can not be set off.
Since, it is exempt income u/s 10(38).
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