RE: [aaykarbhavan] query on LTCG / LTCL

The Answer is No.

 

Since STT paid LTCG is exempt, so is the Long Term Capital Loss on STT.

 

But non STT LTCG is being taxed at the rate prescribed under the Income Tax for Capital Gain and it can be set off against brought forward/ current year Long Term Capital Loss on other Capital Assets.

 

In case you need further information/clarification, please feel free to revert to me.

 

Thanks and regard,

 

CA. Arvind J. Gala

9833053458

From: aaykarbhavan@yahoogroups.com [mailto:aaykarbhavan@yahoogroups.com] On Behalf Of tapuriahmadhu@yahoo.co.in
Sent: Thursday, February 20, 2014 3:09 PM
To: aaykarbhavan@yahoogroups.com
Subject: [aaykarbhavan] uery on LTCG / LTCL

 

whether non stt paid long term capital gain on sale of shares can be adjusted against stt paid long term capital loss on sale of shars ?

 

M S Tapuriah

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