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Long term capital loss on sale of equity shares

This query is : Resolved 
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(Querist)
31 May 2014 SIR,
A COMPANY HAS INCURRED LONG TERM CAPITAL LOSS ON SALE OF EQUITY SHARES RS.1.30 CRORES AND HAS EARNED LONG TERM CAPITAL LOSS ON SALE OF LAND RS.1.50 CRORE
SIR PLEASE GUIDE ME THE LOSS CAN BE SET OFF AGAINST PROFIT
WITH REGARDS
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Ashok

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Ashok (Expert)
31 May 2014 If STT is paid on equity share then such loss cannot be set off against any income. Loss on land long term can be set off only against any other long term capital gains.
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