Set off of LTCL on sale of equity shares

The Long term capital gain on sale of equity shares is exempt from tax under Sec.10.

Accordingly, long term capital loss is also not allowable to be set off under Sec.14A.

i agree,...Ltcg on sale of shares is exempt u/s 10(38) so no set off of loss can be ........

 sec 14A talks abt exp in relation to exempt income......so the term loss will not be covered.. under that section...... though its a general rule that losses in relation to exempt income cannot be set off but i think there is no section under income tax act which says that losses in relation to exempt income cannot be set off,or c/f and set off......

income exemp U/sec 10 are not part of computation of income so loss regarding those income are not also part of compution of income so set off of LTCL on sale of eqity shares is not allowed..