Long Term Capital Gain on sell or redemption of shares or equity oriented units is exempt u/s 10(38). Whether Long term Capital Loss on such transaction will be allowed to be carried forward or not???
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Carry Foraward of Long Term Capital Loss-STT
Replies (3)
no it will not be carried forward ..
Always remember when any income is exempt u/s10 then no loss or expenses for the same can be claimed. Thus when capital gain is exempt u/s10(38) then not loss for the same is allowed for carryforward.
no..... LTCloss on sale of shares cannot be carried forward as it is exempt from tax U/s 10(38)..
LTCG on sale of shares is exempt from tax as u rightly said...
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