Yes, this is possible. Long Term Capital Loss (LTCL) from capital assets (equity shares are capital assets too) can be set off against Long Term Capital Gain (LTCG) in that year. If any LTCL arising in a particular year has not been set off it can be carried forward for 8 assessment years and set off against LTCG in those years.
For instance if in 2012-13 your LTCL is Rs 1.5 lacs and LTCG is Rs 1 lac then Rs 1 lac of your LTCL can be set off against LTCG in the same assessment year and remaining LTCL of Rs 50,000 can be carried forward to the next assessment year to be set off.
All Gold FAQs
- Can I trade in Gold without actually buying physical gold?
- Which one would be the best option to invest- E-Gold, Gold Mutual Fund, Gold ETFs or Jewelry/Gold coins?
- How much percentage of my investment portfolio should be allocated to Gold?
- What is Capital Gains Tax?
- What is the difference between Long term and Short term capital gains tax?
- Is there a way to claim exemption from tax on capital gain on selling Gold ETF/mutual fund units?
- What about liquidity of Gold ETFs?
- How can one trade in gold futures in India?
- What is the difference between tax exemption and tax deduction?