Clarification sought STCG + LTCG and tax exemption of 1 lack

Need clarification on the the below

  1. STCG is a loss of 50,000.
  2. LTCG is a profit of 1,50,000.
  3. 1 lack is the exemption available for LTCG.

Will my tax liability in the above scenario is NIL.

Can I offset STCG of 50,000 to LTCG of 1,50,000 (net 1 Lack) and then claim LTCG exemption.

Please advise.

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Nope. We cannot offset STCG loss against LTCG.

Yes. In the above scenario tax liablity will be Nil.


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Thanks. I was wrong. Short Term Capital Losses are allowed to be set off against both Long Term Gains and Short Term Gains.

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