28 October 2021
In AY2019-20, the LTCG loss was 2500 to be carried forward to next year. However in AY2020-21, again the LTCG loss was 15100 with the result that 2500 could not be adjusted in AY2020-21 filing. In Sch CFL it mentioned 'total loss carried forward for future years' as 17600. 1) Do I need to enter the AY2019-20 and AY2020-21 separately or put the figure of Rs 17600/- under AY2020-21 with filing date in Sch CFL this year? In AY2021-22, the LTCG is 50000 which is tax free upto Rs 1 lac. 2) If I fill up Sch CFL with carried forward LTCG losses while filing tax this year , will it adjust with LTCG of 50000 even though, this LTCG amount is tax free or it will not adjust with Rs 50000/- and will be carried forward again to next year? 3) Or can I skip entering in Sch CFL, the losses this year and enter it next year with the losses carried forward in AY2020-21?
CAclubindia
