Questions & Answers On: exempt capital loss
| Can I claim set-off of long term capital loss incurred on sale of listed securities against taxable income? | |
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| 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: | Advocate Shivaram Rao |
| Tags: | exempt capital gains, exempt capital loss |
| 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 |