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Setoff

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(Querist)
03 July 2012 Under what heads Long term capital loss can be setoff and then short term capital gain
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
03 July 2012 1. Long term capital loss can only be set off against long term capital gain.

2. Any amount of LTCL which is not set off will be carried forward for 8 assessment years and can be set off only against long term capital gain.
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