Question

What is the provision of capital loss? ​

Answer 1

Answer:

Act, 1961, to provide that while losses from transfer of short-term capital assets can be set off against any capital gains, whether short-term or long-term, losses arising from transfer of long-term capital assets would be allowed to be set off only against long-term capital gains.

Answer 2

Answer:

Act, 1961, to provide that while losses from transfer of short-term capital assets can be set off against any capital gains, whether short-term or long-term, losses arising from transfer of long-term capital assets would be allowed to be set off only against long-term capital gains.

Explanation:

PLEASE MARK BRAIN LIST ANSWER