n NISM Certifications
NSM General NISM
Medium

Under the Income Tax Act, is it possible to set off capital gains and losses?

Practice question from Taxation Test — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    No, capital gains and losses cannot be set off.

  2. Yes, it is possible to set off capital gains and losses.

    Correct answer

  3. C

    Only capital gains can be set off against capital losses.

  4. D

    Only capital losses can be set off against capital gains.

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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