Hello.
I am NRI. I have Shares acquired from open market from 2018- 2021. I sold them sept / oct 2021. After deducting losses incurred nett STCG and LTCG are positive and will be taxed.
1.Can i reinvest full consideration into any type of asset and get setoff including shares ?
2. if not if I purchase a new flat, which will be my second residential property in india. Can I setoff my LTCG by paying in full consideration of sell proceeds for LTCG component of sell?
Request to pls reply
Dear Aakarshji,
Thank you for your reply. However i had read following recently so was more curious to check if the consideration along with LTCG if invested to equities with 3 year locking will it be allowed ?
https://economictimes.indiatimes.com/markets/stocks/news/ltcg-can-be-set-off-across-assets-tribunal/articleshow/86469245.cms
Long-term capital gains are the profits earned on the sale of listed equity shares. ... The Long-term capital gains (LTCG) over Rs 1 lakh on listed equity shares per financial year is taxable at the rate of 10% without the benefit of indexation.
The long-term capital gains tax will be the difference between the selling price of the asset and the fair market value, which is Rs 50 (Rs 300 – Rs 250). Example 2: You have purchased an equity share on 01 February 2017 at Rs 200. The fair market value as of 31 January 2018 was Rs 150.
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