Set off?

Long Term Capital Loss cannot be set-off against any long term cap gains since LTCG is itself exempt u/s 10(38).

as per section 10(38) LTCG arising from sale of securities and shares and STT is suffered is exempted.

when LTCG itself is exempted, no question of setting off LTCL from shares.

whatever........,

Long Term Capital Loss WILL BE  SET-OFF against Long Term Capital Gain from jewellery.

i know everybody above posted will oppose me so for kind information i tag a case law for you.

CIT V Harprasad & Co. P. Ltd [2008 -TMI - 6439 - SUPREME Court

Anupama and pratik agrawal u wrote u/s 10(38) - my friends it is not a matter for this section. it is related to section 70.