Capital Gain and Brought Forward Capital Loss

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sbali1976

sbali1976 (Querist)
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06 September 2023 Long term Capital Gain on Sale of Residential Property : Rs. 25 L
Brought Forward Capital Loss (Short-term capital Loss on Shares/Stock) : Rs. 15 L
Can we invest Rs. 10 L (25 L - 15 L) in capital gain bonds u/s 54EC and adjust balance capital gain of 15 L with brought forward capital loss.
Is this allowed or not, if yes, are there any restrictions or limitations ?
Thanks

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 September 2023 Yes it's allowed no restrictions in such a case. Any how fill ITR and check it's allowed before 6 months from the date of long term capital gains ( before making 54EC deposit).

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sbali1976

sbali1976 (Querist)
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07 September 2023 Thanks for your reply. The capital gain has occurred in FY 2023-24. The relevant ITR will be available only from April 2024. My understanding is, LTCG 25L Less: Investment in 54EC Bonds 10L : Remaining Taxable LTCG 15L, Less: Brought forward Short-term Capital Loss: 15L, Balance LTCG 0

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 September 2023 It's ok go ahead...

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sbali1976

sbali1976 (Querist)
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07 September 2023 Thanks a lot for your valuable input !!

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 September 2023 You are welcome...
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