Is it possible to setoff Long term capital Loss on sale of shares - listed, with the LTCG on sale of shares which are trasancted through recgsd stock exchange which are exempt from tax u/s 10(38)
27 January 2009
your query is somewhat confusing. For the sake of clarity I am assuming the following situations 1.LTCG on listed shares transacted through recognised stock broker & STT is paid and LTCL also on listed shares transacted through recognised stock broker & STT is paid .If that be the case LTCG is not liable to tax & LTCL shall not be ajusted against any income and shall not be c/f
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