Long term capital gain and loss
This query is : Resolved
06 July 2019
For financial year 2018-19, I had Long term capital gain on shares of Rs. 90,000 and Long term capital loss in shares of Rs. 2,00,000. Can I set off the Long term capital gain of 90,000 with the exemption limit of 1,00,000 and carry forward the Long term capital loss of 2,00,000?
07 July 2019
No. Section 70(3) has to be applied before 112A(2).
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