Under the Income Tax Act, if a taxpayer incurs a short-term capital loss of ₹2,00,000 and a long-term capital gain of ₹1,50,000 in the same year, what is the net taxable capital gain?
A. ₹3,50,000
B. ₹50,000 (Short-term)
C. ₹50,000 (Long-term)
D. Nil
Answer: Option D
Solution (By JKSSB Mock Tests)
Short-term capital loss can be set off against both STCG and LTCG. Here, the STCL of ₹2,00,000 is set off against the LTCG of ₹1,50,000. The remaining STCL of ₹50,000 is carried forward. The net taxable capital gain for the year is Nil.
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