I am reading the following.
Any LTCL incurred by you upon the sale of such a capital asset can be utilised to set off against LTCG arising from any asset in the current financial year.
The above statement seems to be in contradiction to what you said. How do you infer this? Let me clarify my question more clearly.
Can the loss on long term capital due to equity which was carried forwarded, be offset against the long term capital gain in the property of the current year?
I would like to believe that property and equity are 2 different assets and there is provision to set off the previous loss with current gain irrespective of the asset classes as long as both are under long term capital (gain and loss).
Would appreciate your response again.