If long term capital gain is exempt then whether we can use the long term capital loss(which will be exempt it were gain)to set off other long term capital gain which is not exempt.
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Exempt Income
Replies (9)
| Originally posted by :PRAMESH AGARWAL | ||
| " | If long term capital gain is exempt then whether we can use the long term capital loss(which will be exempt it were gain)to set off other long term capital gain which is not exempt. | " |
No we can not setoff the loss of taxable long term capital gain with the exempted long term capital gains
No, we cannot do that. it is the loss related to exempt income n will not form part of the total income.
NO
No Pramesh U cannot set off LTCL against LTCG.
No setoff against it
no u cant setoff, bcoz exempt income means not coming in purview of tax n incom includes both positive nd negative.
no u cant setoff, bcoz exempt income means not coming in purview of tax n incom includes both positive nd negative.
Hi Pramesh,
Since the Exmpted LTCG is not taxed, LTCL cannot be set off with other LTCG.
U can not claim exempt incomes set off against non exempt Income.
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