16 September 2021
Assessee has Short Term Capital Gain without indexation from Debt Oriented Fund He also has Long Term Capital Loss on sale of shares After filling details in ITR 2 it is setting off Short Term Capital Gain without indexation from Debt Oriented Fund against Long Term Capital Loss on sale of shares and balance loss is c/f to next year My question is whether above loss adjustement is correct
16 September 2021
Not right, as per the provision under Income Tax Act, the Long Term Capital Loss can be set off only against Long Term Capital Gains.