https://www.taxtmi.com/article/detailed?id=439 A long-term capital loss on securities or units where Securities Transaction Tax was paid is not an "exempt" item under Section 10(38) and, because losses are distinct from exempt positive income, such losses remain within the head "Capital Gains" for computation and thus may be set off against other taxable long-term capital gains and carried forward for set-off in subsequent years; however they cannot be absorbed against LTCG that is exempt under Section 10(38) in the year of absorption. en-us Mon, 27 Jul 2009 00:00:00 +0530 Mon, 27 Jul 2009 16:32:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=439 A long-term capital loss on securities or units where Securities Transaction Tax was paid is not an "exempt" item under Section 10(38) and, because losses are distinct from exempt positive income, such losses remain within the head "Capital Gains" for computation and thus may be set off against other taxable long-term capital gains and carried forward for set-off in subsequent years; however they cannot be absorbed against LTCG that is exempt under Section 10(38) in the year of absorption. Articles Income Tax Mon, 27 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=439