It is better to wait beyond March 31 this year to sell equity shares or units of equity-oriented mutual funds if one is incurring losses.
This is so because these losses can be set off for long-term capital gains (LTCG) tax, to come into force from April 1 this year. These losses can be set off for a period of eight years.
"Long-term capital loss arising from transfer made on or after April 1, 2018, will be allowed to be set-off and carried forward. Unabsorbed loss can be carried forward to subsequent eight years for set-off against long-term capital gains," clarified the