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Varun (Proprietor)     10 April 2021

LOSSES FROM SALE OF EQUITY SHARES OFFSET AGAINST SALE OF HOUSE PROPERTY

Hello All,

Greetings !!

Please reply on below.

Q1. Can we offset Losses from sale of shares against Capital Gain from sale of House property ?

Q2. If Yes, then what is the treatment for LONG TERM / SHORT TERM.

Sr No Type of Loss Can we offset against below ?
1 SHORT TERM capital losses from sale of Equity shares LONG TERM GAINS from sale of house property
2 LONG TERM capital losses from sale of Equity shares LONG TERM GAINS from sale of house property

 

Please help.



 5 Replies

Sourav

Sourav (Student)     10 April 2021

1) Yes you can set off loss from shares against LTCG.

2) under sl no 1 you can set off STCL against LTCG.
Under sl no 2 you can also set off LTCL against LTCG
CMA Poornima Madhava

CMA Poornima Madhava (CMA)     10 April 2021

You may set off such losses only if the assets are short term capital assets. In other words, long term capital loss can only be set off against long term capital gain.
Ankit Neema

Ankit Neema   10 April 2021

Yes, you can
Sourav

Sourav (Student)     11 April 2021

All procedures are correct
Varun

Varun (Proprietor)     11 April 2021

Great !!

Thanks to All of you for this Quick replies !!


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