Set off against long term capital gain (off market)

Secondary Mkt 1607 views 4 replies

manish

partner

24 Points Posted on 29 March 2011

hi,

if i have long term capital loss (off market) , what can i set it off against?

1) short term gain (stt paid) ? or

2) short term gain ( off market)?

If none of above then whats the best way to utilize this loss?

if i carry it forward to next year then can i set off against anything in next year?

Replies (4)

Vinit

CA Final

188 Points Posted on 29 March 2011

LTCG can not be set off against STCT or with any other heads income . It can only be set off against LTCG. you can carry forward it and can adjust it with LTCG in subsequent year,s.

M. N. JHA

8316 Points Posted on 29 March 2011

Originally posted by : Vinit
	LTCG can not be set off against STCT or with any other heads income . It can only be set off against LTCG. you can carry forward it and can adjust it with LTCG in subsequent year,s.

agreed.........and also u can adjust it upto 8 years

Ramalingam K

Founder & Director - Holistic Investment

21077 Points Posted on 09 May 2014

What every investor needs to know about Capital Gains Account Scheme?

The Query

Mr Chaudhury has just sold his old ancestral house for a lump sum consideration of Rs.20,00,000. He has now set his eyes on a new apartment which is due for possession within the next two years. Mr. Chaudhury is in a dilemma, he is aware that the amount he has received is a Capital Gain in his hands and is liable to tax. His intention is to use this fund towards paying for his new abode. What are his options?

https://holisticinvestment.in/blog/what-every-investor-needs-to-know-about-capital-gains-account-scheme/

With Regards,

Ramalingam,

Director,Chief Financial Planner.

HOLISTIC INVESTMENT PLANNERS PRIVATE LTD

“Best Performing Financial Advisor Award” Winners from CNBC TV18