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
CAclubindia
