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Set off

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(Querist)
09 June 2011 Hello,

can short term capital loss on listed securities be set off against long term capital gain on shares?
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CA NIDHI VYAS

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CA NIDHI VYAS (Expert)
09 June 2011 No, Long Term Capital Gain on sale of listed securities is exempt u/s. 10(38) - No question of set off of exempt income arises.
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