banner_ad

LTCG adjustment

This query is : Resolved 
Profile Image

Profile Image

(Querist)
28 February 2009 hello,
i have a query, pls help me with it.
I have LTCG of Rs.2 lakhs (after indexation)from sale of shares of an unlisted company. I have also meanwhile sold physical shares of a listed company through direct sale to my cousin, i the process acuiring a loss (due to indexation) of Rs1.5 lakhs; this transaction has obviously not suffered STT but is of a stock that is listed but not compulsorily demated. I want to know:
1. If this loss is adjustable against the first gain, if so any sections that confirm this,
2. LTCG is exempt for all transactions of shares that are listed in a stock exchange or only on those transactions of such shares which have been undertaken through the stock exchange and suffered STT.

Please advice.
Regards
Profile Image

CA Nitin Wadhwani

Profile Image

CA Nitin Wadhwani (Expert)
28 February 2009 Yes.
You can adjust the loss against your gain.
LTCG is exempt u/s 10(38) if both conditons are satisfied:
1.Sale is through regonized stock exchange
2.STT is paid.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details