Tax treatment of loss incurred on sale of mutual fund units

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Querist : Anonymous

Querist : Anonymous (Querist)

18 November 2012 i would be highly obliged if someone would guide me as to how to treat the loss i have incurred on sale of mutual fund units for ay 13-14 under elss scheme

would indexation benefit be available to calculate the loss on sale of units.

Thanking in advance

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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18 November 2012 In case of ELSS units the Long Term Capital Loss can not be carried forwarded as the same is covered by Section 10(38) dealing with income exempt arising out of such a transfer.
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Querist : Anonymous

Querist : Anonymous (Querist)

07 December 2012 can this long term capital loss be offset against capital gains both long and short

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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12 December 2012 The query is not clear. But if your query is about set off of Long Term Capital Loss (ELSS units) against STCG (ELSS units), set off is not possible.

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