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Set off St losses against LT gain

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(Querist)
24 July 2009 Is it compulsory to adjust ST loss (STT paid) against LT gains on Shares (STT Paid)? (section 70)
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
24 July 2009 STC loss will not be set off against LTCG on which STT has been paid as gain is exempt and not considered as income.
So STC loss will be carried forward.
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