23 December 2014
A house property is sold in current year, can we carryforward and setoff the losses of that property in current year and setoff against Capital Gain.The holding period of the property is 37 months.
23 December 2014
The LTCL can be set off only against LTCG, if any, arising from sale of other long-term capital assets. Further, any LTCL that cannot be set off against LTCG arising in the same fiscal can be carried forward to subsequent eight fiscals. But this can be set off only against LTCG.
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