STCL on shares can be setoff with LTCG on sale of property

Income Tax Act 1961 Income from Capital Gains
1

I have short term capital loss of Rs 1 lakh on sale of shares and Long term capital gains of Rs 8 lakhs on sale of property

Can STCL on shares can be setoff with LTCG on sale of property

I have invested Rs 7.1 lakhs in REC Capital Gains Bonds, what to do now

I am a senior citizen

2

Hey @Ramesh_Saraf,

Welcome to the community!

You can set off the ₹1 lakh STCL from shares against your ₹8 lakh LTCG from property. So your net LTCG becomes ₹7 lakh.

As you’ve already invested ₹7.1 lakh in REC Capital Gains Bonds, you can claim exemption under Section 54EC while filing the ITR.

Since your net capital gain is ₹7 lakh and you’ve invested more than that, your capital gains tax liability becomes zero.

Hope this helps!

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