Long term capital loss
This query is : Resolved
05 May 2012
Hi,
I have a Long term capital loss on sale of listed shares.
As Long term capital gain on sale of listed shares is exempted, do i need to reflect this loss at the time of filing of the income tax return for c/f to subsequent years.
Also will preparing computation of income do i need to show this loss in computation.
Regards
Anish Modi
I have a Long term capital loss on sale of listed shares.
As Long term capital gain on sale of listed shares is exempted, do i need to reflect this loss at the time of filing of the income tax return for c/f to subsequent years.
Also will preparing computation of income do i need to show this loss in computation.
Regards
Anish Modi
05 May 2012
The general is that any income exempt from tax, loss of the same shall not be available for set off/carry forward .ie lapse.
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