Can the LT capital loss from sale of delisted share, be set off against LTCG from sale of house property? How long the LTCL on share be carried forward.
The long-term capital gains on sale of listed securities exceeding Rs.1 lakh are taxed at 10% as per the Union Budget 2018. The short-term gains will be taxed at 15 percent.. If you have incurred a long term capital loss on selling shares or equity mutual fund units after 31.3.2018 then you can set them off against any LTCG , as profits/gains on long term shares or equity funds are now taxable in excess of Rs. 1 lakh; this amendment was announced in Budget 2018. Also, you can also carry forward these losses for setting off in later years up to 8 assessment years.
Prior to 31.03.2018, there was no tax on Long Term Gains on Shares & Equity Funds, therefore Long Term Capital Loss on Shares and Equity Funds was considered as a dead loss. Therefore, the same was not set off or carried forward
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