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Setting off capital gains after selling shares

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Lokesh

Student

70 Points Posted on 23 July 2023

Hello Experts,

If a person sells shares and then buys a property through Power of Attorney, is it possible to avoid tax on capitals gains while filling ITR

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Quick Summary

This discussion explores the tax implications of selling shares. It clarifies that using funds from a share sale to buy property via Power of Attorney does not exempt capital gains from tax. However, it confirms that capital losses incurred from selling a flat can be offset against profits made from selling equity mutual funds.