Capital Gains

This query is : Resolved

nikhil bapat (Querist)
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18 June 2009 Whether the Capital Loss (Long Term or Short Term) on sale of Shares can be set off against Capital Gains on sale of House Property?? Or is it so that Loss on Sale of Shares must be set off only against Gain on Shares??

Pls quote the relevant Section / Rule of Income Tax Act / Rules

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
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18 June 2009 long term capital gain/loss setoff is not allowed if stt is paid short term capital loss is set off against short term capital/long term capital gain sec 10(38)

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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18 June 2009 agree with the expert

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CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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18 June 2009 You can set-off against any LTCG.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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07 November 2021 Whether the Capital Loss (Long Term or Short Term) on sale of Shares can be set off against Capital Gains on sale of House Property??
Ans.: NO.