One-time capital gains set-off dropped in latest version of Income Tax Act 2025: How it impacts your tax bill

The final Income Tax Act, 2025 has removed a one-time provision that allowed brought-forward long-term capital losses to be set off against short-term capital gains. This change reverts to the restrictions of the Income Tax Act, 1961, limiting LTCL set-off only against LTCG, impacting taxpayers' ability to reduce their tax liabilities.

from Tax-Wealth-Economic Times https://ift.tt/4MjEfQB