Ltcg for companies

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