Carry Forwards Losses on Short Term Capital Gain

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Student (Querist)
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30 July 2022 Sir,
My query is if suppose Short Term Capital Loss in FY 2020-21 is Rs.25000/- and if it is carry forward next year. Now suppose Short Term Capital Gain in FY 2021-22 is Rs.50000/- but if I do not want to take set off of last year short term capital loss this year because my taxable income is below Rs.2.5 Lakh then is it allowable that I may be allowed to set off this Rs.25000/- loss in subsequent year of my choice up to maximum of 4 years ?? or It is necessary or compulsory to take set off next year only as there is short term capital gain in FY 2021-22??. Pl reply .

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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31 July 2022 It is necessary or compulsory to take set off next year only as there is short term capital gain in FY 2021-22.

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