Ltcg/ltcl
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 June 2015
Raptakos Brett & Co. Ltd vs. DCIT (ITAT Mumbai) in this case what is the interpretation of the judgement kindly explain
22 June 2015
Though the LTCG on sale of equity shares (subject to STT) is exempt from tax u/s 10(38), the long-term capital loss on sale of such shares can be set-off against the taxable LTCG on sale of another asset. (Read Sec 70(3) for more clarification)
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