I need your help in understanding correct calculation of LTCG , for below mention example:
LTCapital Loss = Rs. 10,000/- & LT Capital Gain = 5,000/-
my question is :
(1) Will the LT Capital Gain will be deducted from Loss i.e (10,000 - 5,000) = 5,000/- loss will be carried forward??? OR (2) Will LT Capital Gain 5,000/- will be shown as exempt income & Lt Capital loss of Rs. 10,000/- will be carried forward ???
plz help which is correct way to show in income tax returns
CAclubindia
