LTCG not shown in ITR
This query is : Resolved
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23 July 2023
Dear Sir/Madam,
My query is as follows:
Mr A filed his return for AY 2021-22 within due date and show Long Term capital loss of Rs. 250,000/- to be carried forward.
He also filed his return for AY 2022-23 within due date, Paid the taxes. However he forgot to show last years LTCLoss of Rs. 250,000/- in losses brought down section.
Now while filing the return for AY 2023-24, he realised his mistake.
I wish to know:
How can he claim this LTCLoss of Rs. 250,0000/- in AY 2023-24?
Can he file updated return for AY 2022-23 and show this loss? and then show this loss in AY 2023-24 return?
Or he can not claim that loss now as it was not shown in earlier return?
Kindly guide.
Regards,
Suraj
My query is as follows:
Mr A filed his return for AY 2021-22 within due date and show Long Term capital loss of Rs. 250,000/- to be carried forward.
He also filed his return for AY 2022-23 within due date, Paid the taxes. However he forgot to show last years LTCLoss of Rs. 250,000/- in losses brought down section.
Now while filing the return for AY 2023-24, he realised his mistake.
I wish to know:
How can he claim this LTCLoss of Rs. 250,0000/- in AY 2023-24?
Can he file updated return for AY 2022-23 and show this loss? and then show this loss in AY 2023-24 return?
Or he can not claim that loss now as it was not shown in earlier return?
Kindly guide.
Regards,
Suraj
23 July 2023
Manually fill schedule CFL for the losses of AY 2021-22, it is allowed.
No need to update IYR of AY 2022-23.
No need to update IYR of AY 2022-23.
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23 July 2023
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