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Can I Offset Property Loss Against Share Sale Gain?

Mihir Tanna | Answer |Ask -Follow

Tax Expert - Answered on Aug 31, 2024

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more

Asked by Anonymous - Aug 30, 2024Hindi

Money

Hi, Can I adjust Long Term Capital Loss incurred from selling a property against Long Term Capital gain from share sale?

Ans: yes, you can set off your long-term capital losses from the sale of property against your long-term capital gains from the sale of equity investments (stocks)

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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I have incurred a long term capital LOSS from selling a property in India. The capital loss was calculated considering the indexed cost of acquisition and the value of consideration (i.e. Sale price) . My query is - - Whether the Long Term capital Loss arising out of sale of property can be set-off against the Long Term capitals gains from sale of Equity shares/ Mutual fund units of Equity schemes?

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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