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Long term loss can be carry forwarded....????

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17 June 2011 I'm having doubt regarding cary forward of long term capital loss, when there is a long term capital gain which is exempt...

Assume there is Long Term Capital Gain of Rs.50,000/- and in the same year there is a long term capital loss of Rs.10,000/-.
The above cieted GAIN is a LTCG came form sale of shares.....
Now, my doubt is:

what amount of Long Term capital gain is exempt Rs.50,000/- is exempt (or) net long term gain of Rs.40,000/- is exempt... ???
Whether the long term capital loss of Rs.10,000/- can be carry forwarded ???
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CA MANOJ GUPTA

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CA MANOJ GUPTA (Expert)
17 June 2011 EXEMPT INCOME DOES NOT FORM PART OF TOTAL INCOME
IN THIS CASE 10000 WILL BE C/FD AS LTCL TO BE SET OFF IN NEXT YEAR

CA MANOJ GUPTA
JODHPOUR
09828510543
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