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Set off of Loang Term Capital Gain

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Nilesh Jain

Nilesh Jain (Querist)
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25 June 2008 Whether Long term capital loss on sale of shares can be set off against long term capital gain on sale of property? Pls also provide respective section and explaination.

CA Anand Sarda

CA Anand Sarda (Expert)
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25 June 2008 Long term capital loss on shares can be setoff against long term capital gains on property provided that loss on shares has not aroused due to speculation activities(i.e.intra day trading and derivative trading)

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