I have incurred LOSS of ₹ 1,90,000/- by selling equity based mutual fund held for more than one year. Hence the said loss is LONG TERM GAIN (LOSS). Can I adjust the said loss againt LONG TERM CAPITAL GAIN of ₹ 20,00,000/- .The said LTCG is incurred by selling shares held in a PVT LTD company. I am able to offset loss of ₹ 1,00,500/- incurred due to sale of Shares of public limited company held for more than one year.
Hence please advive me can I offset LONG TERM CAPITAL LOSS incurred due sale of equity based mutual fund against LONG TERM CAPITAL GAIN.
Regards
Dixit
Capital Loss from Mutual Fund Sale Can Offset Gain from Private Company Shares, Says Expert Advice on Adjustments An individual inquired about offsetting a long-term capital loss of 1,90,000 from selling an equity-based mutual fund against a long-term capital gain of 20,00,000 from selling shares in a private limited company. They mentioned successfully offsetting a loss from selling shares of a public limited company. A respondent asked for the source of the capital gain, and upon confirmation that it was from a private limited company, the respondent advised that the loss could be adjusted against the gain. (AI Summary)
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