InvestorQ : If I make a profit on my debt funds, can I set that off against my loss on house property?
Dilmini Mercia made post

If I make a profit on my debt funds, can I set that off against my loss on house property?

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Dhwani Mehta answered.
2 years ago
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That is perfectly possible. As long as it is a capital gain / loss, it pertains to a capital asset. As long as it is under the header of capital gains and losses, set off is permitted even if the assets are different.

For example : If you make capital loss on stock investment, you can set-off this loss against capital gains on sale of property (if any). Here are 2 basic rules of set off to remember…

· Long Term Capital Loss can be set off only against Long Term Capital Gains.

Short Term Capital Losses are allowed to be set off against both Long Term Gains and Short Term Gains.
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