Let’s say someone makes a profit of 1 lakh in long term equity holdings ( ltcg ) and a loss of 1 lakh in F&O.
Now since first 1 lakh ltcg is exempt as per rules , is the person allowed to carry forward his F&O loss?
Depends on the person.
Unfortunately, no. It gets set off and we have no control on the setoff rules
Hi @raghav.95,
Your profits will be first adjusted against the loss and the exemption will be allowed on the remaining profits (if any).