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Capital gains on property

190 views 5 replies

SCJ

RETIRE

59 Points Joined October 2016

Hello ,

My query is , I am hoping to sell a property of mine in July, this sale will leave me with Capital Gains of about Rs55lakh. I will buy bonds with Rs50lakh that will still leave me with Rs5 lakh.

I am at the moment having a paper loss on some of my equities. For example I am losing about Rs35000 on mt Tata Motors investment, (this is a long term loss). What I would like to know is after, I sell my property, can I sell my share and claim the loss againt the gains on the property sale .

Thankyou

Replies (5)

Sahil Jain (FAFD, DISA, CA)

Practicing Chartered Accountant

2481 Points Joined June 2013

Yes, you can set off long term loss on sale of shares against the long term gains on sale of property.

priyankagupta

article

361 Points Joined February 2017

Mam it is possible to set off losses on equity from Capital gain on property

SCJ

RETIRE

59 Points Joined October 2016

Thank you both for your replies.

CA Manish Jathliya

Professional

401 Points Joined October 2012

Yes it is Better to book Loss in Equities and adjust it from Capital Gain You can Also buy Same share at same Price and it will help you to save taxes on Capital Gain.