Offsetting LTCG on MF with FNO loss

Hi

Is it possible to offset long capital gains from mutual funds with FNO losses from current year?

Thanks!

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Hey @bhaskids,

Losses from F/O can be adjusted against all incomes except ‘income from salary’. Hence, yes, F/O losses can be set-off against LTCG.

Here’s an article for your reference: Set Off and Carry Forward of Losses under Income Tax Act