Comment on Taxation Simplified

Anish,

If you declare yourself as a trader, then long term gains and loss will be both be business profit/loss respectively. So yes, if you categorize yourself as a trader(ITR4, trading as abusiness), you can set off your long term loss against your long term gain or any other business income/gain.

If you are showing yourself as an investor and claim long term gain exemption, in that case your long term loss cannot be net off against anything else..

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