Capital gain adjustment against loss

hi ,
it's a request I have a question please help me in the same .

I have a capital gain on
commercial property of rs 2.5crore

wherein I am developing a building where I have work in progress Rs16 crores (negative ).

Basically till the development is not complete it's a loss .

can this Capital gain be adjusted against the above development project loss in WIP

CG is on my individual name
&
project is on my proprietorships company
Replies (5)
Quick Summary
This discussion explores whether capital gains from a commercial property sale can be offset against losses incurred on a building development project that is still under construction (Work in Progress). The key issue is whether a capital gain in an individual's name can be adjusted against a loss from a proprietorship business, even though both involve long-term capital gains and losses. The consensus suggests that WIP losses cannot typically be adjusted against such capital gains under current tax regulations, particularly concerning how WIP is valued.

Long term capital loss can be adjusted against only LTCG
Yes both are LTCG & LTCL but loss is in project which is under Work in progress format
WIP loss cannot be adjusted against LTCG
Read sec 70 ..
for setting of loss from one head under the same head from two different source one short term and another long term.
In this case however, you cannot set off such loss .
wip cannot be valued on the basis of completed units.
But for matching concept certainly cost and revenue are calculated.
Ok great thank you I will go through .

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