Stcg losses in India can be set off against stcg gains for us securities held in Ind money account held in India

Income Tax Income from Capital Gains
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As capital gain on profit in us securities is taxed at 30% and in India equity it’s 15% , if I have 2 lakh loss in Indian stock exchange and made 3 lakh in meta shares held in Ind money, can I set off 2 lakh against 3 lakh profit and pay 30% on 1 lakh remaining please suggest

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@Shrutika_Shah ,can you please answer this query

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Hey @Coin_Mamba,

Foreign shares are taxed at 20% if they are LTCG (holding period > 24 months) and STCG (holding period < 24 months) will be taxed as per the applicable slab rate.

Moreover, for the losses to be set-off, it would depend on whether the gains and losses are long term or short term.

LTCL can be set off against any other LTCG and STCL can be set off against both STCG and LTCG.

Hope this clarifies your query.

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@Shrutika_Shah , in India, we pay STT on short-term transactions, which I didn’t pay in the US. In this case, can I simply set them off against each other? Please clarify