Set Off LTCL on unquoted share against LTCG of shares
This query is : Resolved
24 July 2009
Whether Long Term Capital Loss on sale of unquoted share can be set off against Long Term Capital Gain on sale of land.
Ashish Shah
(Expert)
24 July 2009
Yes, this can be done as there is no specific provisions in the Income tax restricting the Long term loss on Shares to be adjusted against long term gains of others
24 July 2009
Yes since as per relevant provision long term capital loss is set off against long term capital gain in same head
24 July 2009
Yes since as per relevant provision long term capital loss is set off against long term capital gain in same head
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