Can I set off equity losses(both short term loss and long term loss ) against non-equity gains like gold ETF STCG gains

Taxation
1

Can I set off equity losses(both short term loss and long term loss ) against non-equity gains like gold ETF STCG gains?

2

As per the discussion I had with my ca equity stcg can be offset with both equity and non equity (SGB, GOLDETF etc Not sure of liquidcase) profits both ltcg and stcg…

but ltcg loss can be only offset against ltcg profits…

3

Am I correct?

equity losses(both short term loss and long term loss ) can be set off against gold ETF STCG gains.

4

LTCG losses can be offset only against LTCG profits…

STCG losses can be offset against ltcg and stcg…

Tax setoff rules
Tax setoff rules1920Ă—989 159 KB

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5

Hi,

yes, these are called intra head set off adhering to the below conditions.

  1. STCL (Short-Term Capital Loss) - Can be set off against both STCG and LTCG
  2. LTCL (Long-Term Capital Loss) - Can be set off only against LTCG
  3. Carry Forward - Unadjusted losses can be carried forward for up to 8 assessment years

regards,
CA. Shreyas Raj N