Can I set off a long-term loss on debt funds against long-term gains from equity?

I have a long-term capital loss after indexation on debt funds. Can I set it off against long-term capital gains from equity?
- Kirti Prakash

Yes, sure. The tax laws permit the long-term capital gains to be set off against long-term capital loss. So you can use the long-term capital loss on your debt funds to set off the gains you have from equity. Not only that, if you're not able to utilise all these losses completely to set off some other capital gains, you can carry them forward and take that benefit up to the next eight financial years.

This article was originally published on March 10, 2022.