Long term Capital Gain

[VISHWAS DIXIT]

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

[DR.MARIAPPAN GOVINDARAJAN]

From which source long term capital gain arises?

[VISHWAS DIXIT]

Long Term Capital Gain is arrived by selling shares of Pvt Ltd Company

[DR.MARIAPPAN GOVINDARAJAN]

Then in my view it can be adjusted.

AI Summary

Long-term capital loss offset permitted: equity mutual fund loss may be set off against long-term gain from share sale.
The adviser opines that a long-term capital loss from sale of an equity-based mutual fund held over one year can be adjusted against a long-term capital gain arising from sale of shares of a private limited company, reflecting that long-term equity losses may be set off against long-term gains from share disposals in the taxpayer's capital gains computation.