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Query on set off provision

This query is : Resolved 
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(Querist)
26 December 2009 My wife has sold Sardar Sarovar Bond On BSE earned Long Term Capital Gain of Rs.50000 during the F.Y 2008-09. During the same year, she has incured Long Term Capital Loss of Rs.40000 on sale of shares on BSE.
Can the loss on sale of shares be sent off against LTCG made on Sardar Sarovar Bond?
Experts please advaise

Pankaj Ajmera
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
17 May 2012 Yes long term capital loss can be set off against long term capital gain of any kind.

So, long term capital loss on sale of shares can be set off against long term capital gain on sale of bonds.
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