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Can I book short-term capital loss?

If you sell a capital asset and book short-term capital losses, you can set it off against capital gains

I am investing in a diversified equity scheme which does not charge any exit load on redemption before a year. If I book loss for the last one year and invest the same amount in the same fund on the same day, will I be able to claim short term capital loss?
- Bharat Kumar

If you sell a capital asset and book short-term capital losses, you can set it off against capital gains. Short-term capital loss can be set off against both short-term and long-term capital gains.

This article was originally published on February 17, 2016.

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