Long term capital gain

Tax queries 676 views 2 replies

Can 'long term capital loss' arising from sale of securities can be offset against 'long term capital gain from sale of property' ??

Replies (2)

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!


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