Questions & Answers On: exempt capital gains

Can I claim set-off of long term capital loss incurred on sale of listed securities against taxable income?
Subject: Can I claim set-off of long term capital loss incurred on sale of listed securities against taxable income?
Category:  Income Tax
Asked by: Ravindra Khurana
Answered by:
Tags: ,
Date: September 1, 2019
Excerpt of answer:

The AO is not right in his decision in treating the long term capital loss incurred on sale of listed shares on the same footing as that of long term capital gain and thereby denying the carry forward of long term capital loss since long term capital gain was exempt u/s 10(38) of the Act