Long Term Capital Gain on sell or redemption of shares or equity oriented units is exempt u/s 10(38). Whether Long term Capital Loss on such transaction will be allowed to be carried forward or not???
Plzzz.... Reply....
shreyas (Student) (260 Points)
04 September 2009Long Term Capital Gain on sell or redemption of shares or equity oriented units is exempt u/s 10(38). Whether Long term Capital Loss on such transaction will be allowed to be carried forward or not???
Plzzz.... Reply....
Pammi Srivastav
(Assistant Finance Officer )
(84 Points)
Replied 15 September 2009
Always remember when any income is exempt u/s10 then no loss or expenses for the same can be claimed. Thus when capital gain is exempt u/s10(38) then not loss for the same is allowed for carryforward.
C.Balaji
(Learner)
(1867 Points)
Replied 16 September 2009
no..... LTCloss on sale of shares cannot be carried forward as it is exempt from tax U/s 10(38)..
LTCG on sale of shares is exempt from tax as u rightly said...
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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