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How to adjust Capital loss from sale of flat for salaried individual

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Lucky Sidhu

1 Points Posted on 03 July 2022

Hi,

I've a residential flat which I bought for lets say 30 Lacs. So far I've paid interest of 10 lacs and the flat market price is now 22 lacs. If I sell this flat I'll be at a net loss of 18 lacs (10 lacs interest and 8 lacs depreciation in price). Can I set off this loss of 18 lacs against the capital gains from sale of securities (shares) long term or short term.

Kindly note I'm a salaried individual.

Pls advice. Thanks

Replies (3)

Quick Summary

This discussion explores how a salaried individual can adjust capital loss incurred from selling a residential flat. The user is asking if a significant loss, calculated from purchase price, interest paid, and market depreciation, can be offset against capital gains from selling securities. Advice suggests that this specific type of loss cannot be directly offset against salary income but can be carried forward for future tax benefits.