Using Short-Term Capital Losses to Reduce Long-Term Capital Gains Tax
Yes, you can use short-term capital losses (STCL) to offset long-term capital gains (LTCG) and reduce your tax liability. In India, the Income Tax Act allows for such adjustments, enabling taxpayers to manage their capital gains tax more efficiently. Key Points: 1. Short-Term Capital Loss (STCL): Occurs when a capital asset held for less than […]