Question And Answer
Subject: Capital Gain Tax set off
Querist: rajiv pathak
Answered by:
Tags: ,
Date: June 2, 2023
Query asked by rajiv pathak

If i have a capital gain from equity mutual fund of rs. 400000 after deducting rs. 100000, my gain tax will be 40000 rs. If it is to be set off against long term capital loss, i have to saw loss of only 40000 or 400000 rs?

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Yes, you can set off your long term capital gains against long term capital loss. Further, the deduction of Rs. 1,00,000/- on long term capital gains is also available to the assessee.

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