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

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Proprietor
89 Points Posted on 10 April 2021

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.

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On 10 April 2021 at 13:18 Report
Replies (5)
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Chartered Accountant
24588 Points Posted on 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
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On 10 April 2021 at 14:08
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CMA
13117 Points Posted on 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.
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On 10 April 2021 at 14:23
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2742 Points Posted on 10 April 2021
Yes, you can
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On 10 April 2021 at 16:58
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Chartered Accountant
24588 Points Posted on 11 April 2021
All procedures are correct
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On 11 April 2021 at 05:43
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Proprietor
89 Points Posted on 11 April 2021

Great !!

Thanks to All of you for this Quick replies !!

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On 11 April 2021 at 08:29

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