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Setoff Capital Gains from Mutual Funds against Capital Loss from Sale of Residential Property?

347 views 1 replies

So here's the scenario -

Property Sale:
Property purchased in May 2011, sold in June 2023.
Original cost of acquisition: 21,00,000
Indexed cost of acquisition: 21,00,000 x (348/184) = 39,71,740
Sale consideration: 30,00,000
Long term capital LOSS = 9,71,740

Mutual Funds Sale:
Long term capital GAIN = 10,20,000

Query:
Can long term capital gain from Mutual Funds setoff against long term capital loss from property sale, so that:
Effective long term capital gain = 10,20,000 - 9,71.740 = 48,260?

Thanks for your time and inputs!

Replies (1)

https://docs.google.com/document/d/1yzPNFJyYzluu2BIdHljMGqUWh_Wr0RR6HWqe3RSFyoc/edit?usp=sharing


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