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Fy 17-18 set off of ltcl (tax free ) with ltcg (taxable)

09 June 2018

FY 17-18

CAN LTCG ( TAXABLE AT 10% SINCE NO STT PAID ON PURCHSES ) BE ADJESTED WITH LTCL ( TAX FREE SINCE STT PAID ON PURCHASES ) ?

STT IS PAID ON SALES IN BOTH .

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5 Replies

RAHUL (Student CA Final ) (377 Points)
Replied 09 June 2018

No, both of them can't be set off as LTCL has no tax treatment being tax free.

1 Like

mahesh kumar agarwal (MD) (25 Points)
Replied 09 June 2018

thanks for reply .

but both are in same head and loss can be set off if its in same head .

RAHUL (Student CA Final ) (377 Points)
Replied 09 June 2018

If something is not taxable, you can't set it off from your taxable income. Being in the same head doesn't change a thing. It has to be taxable first.

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RAHUL (Student CA Final ) (377 Points)
Replied 09 June 2018

If something is not taxable, you can't set it off from your taxable income. Being in the same head doesn't change a thing. It has to be taxable first.