Regarding long term capital losses

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N D B (Querist)
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20 May 2015 Hello Experts,

Please Guide me for following matter;

Mr x has incurred Long term Capital loss Rs. 1,02,590/- on disposal of shares which can not be carried forward. Does he required to show this loss in his ITR-4 for AY 2015-16 ? if yes, then where ?

Thanking you

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 May 2015 if the loss was incurred in AY 2015-16, then it can be both carried over and shown in "CG" sheet.

If the loss is for prior year and cannot be brought forward (on account of late filing etc), then you can ignore the same while filing AY 2015-16 return

N D B

N D B (Querist)
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22 May 2015 thanks for your answer,

I am little bit confused with regards to carried forward of long term capital loss.
As long term capital gain from shares is exempt, we can not adjust or carried forward long term capital loss. can it be carried forward and adjust against LTCG other then on shares from AY 2015-15 ??

N D B

N D B (Querist)
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Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 May 2015 well for listed shares, the losses have to ignored for both the year in which the losses were incurred and for future years too.

For losses incurred for unlisted shares, they can be used for set-off in the current year as well as future.

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