Ronnie fernandese (RETIRED) (116 Points)
06 March 2016I have long term capital gain on sale of my house property and long term loos against sale of my equitry shares. Can I offset against one another. If yes, should it be done in same accounting year? Please advise. Thanks.
Kuldipsinh Jadeja
(Job)
(357 Points)
Replied 07 March 2016
Does equity shares were listed on NSE/BSE?
Kuldipsinh Jadeja
(Job)
(357 Points)
Replied 07 March 2016
If they were listed equity shares than in such case you cannot set off such long term capital loss against any income.
Ronnie fernandese
(RETIRED)
(116 Points)
Replied 07 March 2016
Yes. Shares were Listed in BSE / NSE.
Kuldipsinh Jadeja
(Job)
(357 Points)
Replied 07 March 2016
Ronnie fernandese
(RETIRED)
(116 Points)
Replied 07 March 2016
If shares were UNLISTED then it could have been offset against LT gain on sale of house?
Ronnie fernandese
(RETIRED)
(116 Points)
Replied 07 March 2016
Just for knowledge, loss in NIFTY speculation or short term share loss be offset against LT gain on sale of house? Thanks.
Kuldipsinh Jadeja
(Job)
(357 Points)
Replied 07 March 2016
If equity shares were unlisted than long term capital loss on such shares ( holding period=36months to be qualified as long term capital asset) even than it coul be setoff only against long term capital gain on shares and not against gains o f house property
CAclubindia
