| Question And Answer | |
|---|---|
| Subject: | LTCL vs LTCG |
| Category: | Income-Tax |
| Querist: | bs |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | long term gain, long term loss, set off |
| Date: | February 17, 2023 |
can LTCG on land be set off against LTCL in shares before the date of grandfathering was introduced ?
The provisions of set off and carry forward are qua income/gains and not qua the asset. As we understand, Long Term Capital Gains can be set off against Long term Capital loss.
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