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Your Queries (Income Tax): Long-term capital loss on NCD can be set off against long-term capital gain
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I was a retail investor in fixed deposit and NCD of an NBFC whose debt resolution process concluded recently. My FD of Rs 3 lakh was made in July 2017 for 48 months but I received only Rs 73,000 in Sept 2021. I also had been allotted NCDs of Rs 3.28 lakh in their IPO in August 2016 whose maturity was due in August 2019 and I received Rs 1.6 lakh in September 2021. Can I claim a long-term capital loss?—Hardeo Singh Capital gain or loss can only arise when there is a ‘transfer’ of capital asset.
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