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NRI Taxation on STCG and LTCG

Tax queries 305 views 1 replies

Hi

Can NRI set off long term capital gain against short term capital gain?

Also if any unabsorbed capital loss can be carried forward? if yes, for how many years in case of NRI? 

 

Replies (1)

For NRI ITR is same as normal resistant 

Read

Short-term capital loss can be adjusted against long-term capital gains as well as short-term capital gains. Such loss can be carried forward for eight years immediately succeeding the year in which the loss is incurred.

Set off of Capital Losses

The Income Tax does not allow loss under the head capital gains to be set off against any income from other heads – this can be only set off within the ‘Capital Gains’ head.

  • Long Term Capital Loss can be set off only against Long Term Capital Gains. 
     
  • Short Term Capital Losses are allowed to be set off against both Long Term Gains and Short Term Gain

 

 


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