Can LTCL on sale of shares(STT Paid) can be set off against LTCG on sale of Jewellery.?
Menu
Set off?
Replies (5)
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.
Long Term Capital Loss cannot be set-off against any long term capital gains since LTCG is exempt u/s 10(38).
Recent Topics :
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
- FY 2025-26 ITC CLAIM DUE DATE
- 96084000 and 48202000 HSN code ka Tax Rate kya hai
- Clarifications for intra day transactions
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
Related Topics :
CAclubindia
