Set off long term capital loss
This query is : Resolved
17 August 2020
Dear Sir
I incurred long term capital loss from redemption of ELSS (Sundram Diversified Equity -Regular-Dividend Fund ) after 3 years of investment, during FY 2019-20. Can I set off this long term loss with the long term capital gain incurred in FY 2020-21 from sale of the residential property ? Please advise. Thanks
I incurred long term capital loss from redemption of ELSS (Sundram Diversified Equity -Regular-Dividend Fund ) after 3 years of investment, during FY 2019-20. Can I set off this long term loss with the long term capital gain incurred in FY 2020-21 from sale of the residential property ? Please advise. Thanks
18 August 2020
Yes. setoff is possible.
18 August 2020
Yes there is no restriction in the law...you can set off such Long term capital loss against Long-Term Capital Gains from residential house property
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