If capital gains from Indian markets can be set off against US Captial market losses for an NRI

Income Tax
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if capital gains from Indian markets can be set off against US Captial market losses for an NRI

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Hey @kishore_kumar ,

In case of setting off capital losses, there are 2 conditions,

  1. Long term loss can be adjusted only against long term gains
  2. Short term losses can be adjusted against both long term and short term.

These 2 situations are applicable only when you are adjusting current year capital losses.

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so i can set off us short term loss to india short term loss

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As a NRI, you are taxed only on Indian source income. You cannot use losses from a source not taxable in India ( I am sure you have never paid tax in India on US capital gains as a NRI) to offset tax liability in India.

Since you would be reporting your global income in the US, you may be able to offset the US losses against income in India in the US tax return, if applicable.