Long Term Loss on Sale of Shares

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Rohit (Querist)
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06 July 2009 I have long term loss on sale of shares and STT is paid thereon.
Can I set-off the loss against any other long term capital gain?

saurabh (Expert)
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06 July 2009 LTCL can be set off against LTCG only for a period of 8 years. So, yes u can set-off the loss against any other long term capital gain.

CA Nitin Wadhwani (Expert)
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07 July 2009 No.
You cannot claim such loss.
Mr.Saurabh's answer needs re-consideration.

Bhaskaran Chackrapani Warrier (Expert)
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07 July 2009 Seems Mr.Nitin's answer is correct.

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