Long Term Capital Loss on sale of shares

This query is : Resolved 

05 January 2009 hello everyone!

Is it possible to setoff Long term capital Loss on sale of shares - listed, with the LTCG on sale of shares which are trasancted through recgsd stock exchange which are exempt from tax u/s 10(38)

05 January 2009 You cannot setoff the LTCG that is exempt u/s 10(38) against the LTCL.

05 January 2009 thank u


05 January 2009 can it possible to set off against any other LTCG

27 January 2009 your query is somewhat confusing.
For the sake of clarity I am assuming the following situations
1.LTCG on listed shares transacted through recognised stock broker & STT is paid and LTCL also on listed shares transacted through recognised stock broker & STT is paid .If that be the case LTCG is not liable to tax & LTCL shall not be ajusted against any income and shall not be c/f



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