How will loss set and carry forward work in case of equities since they were tax free on LTCG till last year?

Please note that equity and equity funds were tax free till March 2018, post which such gains are being taxed at 10% flat after considering a basic exemption of Rs.1 lakh for each financial year. Till March 31^st 2018, long term capital gains on equity were exempt from tax in the hands of the investor. However, effective from April 01^st, 2018, they will attract a flat rate of tax at 10% without the benefit of indexation beyond the threshold of Rs.1 lakh per financial year. Any long term losses on equities up to financial year 2017-18 cannot be brought forward for set off. This is an important point for you to remember. However, any long term losses arising on equity in the financial year 2018-19 can bet set off against any long term gains in the current year and can also be carried for a period of 8 assessment years. This is a point that needs to be remembered.