Long term capital gain

Long-term capital gain on shares where STT paid is exempt from income tax. So, long-term capital loss from shares where STT is paid cannot be adjusted against any long or short-term capital gain from any source. It cannot be carried forward to the next year too. These losses can be set-off against short-term as well as long-term gains of non-equity assets like real estate, jewellery, debt mutual fund units, gold exchange traded funds etc.

The second statement of Mr. Subramanian contradicts the first one!