Offset of STCG against long term capital loss
This query is : Resolved
29 April 2020
I sold my debt Mutual Fund after 2 years and 3 months for a gain of say Rs 100000/- this gain will be considered as short term capital gain. If I sell an equity MF after 1 year for a loss of say Rs 95000/- which would be a long term capital loss.
1.My query is can these two be offset against each other giving me a net income of Rs 5000 .
1.My query is can these two be offset against each other giving me a net income of Rs 5000 .
29 April 2020
No, Long Term Capital Loss can be set off only against Long Term Capital Gains. Carry forward the loss to next year.
09 May 2020
I think Debt mutual funds needs to be held for more than 36 months to be considered for considering Long term Capital. You must be invested for 3 years. In you case both are short term capital gain and loss.
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