can a company adjust its Long Term Capital Loss against Long Term Capital Gain ?
and if it has purchased new property can exemption be claimed
Thanks in Advance 
Abdul Khader
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Replies (1)
Dear Abdul Khader
Yes the Long Term Capital Loss can be set off against Long Term Capial Gain. There is no provision in Income Tax Act 1961 which bars the assesse from setting off Long Term Capial Loss against Long Term Capital Gain.
The answer of your 2nd question is whether any exemption can be claimed. The answer is it depends on the nature of property sold and purchsed. Various conditions are prescribed for claiming such deduction under section 54, 54B, 54f etc.
Regards
Rohit Gupta
RHT1203 @ GMAIL.COM
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