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Setoff carried forward losses

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05 October 2021 I am a salaried person with annual salary income of Rs. 10 lakhs. I had incurred short term (3 lacs) and long term (2 lacs) capital loss on shares in FY20. In FY21, I have made short term (1.5 lacs) and long term (1 lac) capital gain, however I had taken sabbatical leave in FY21 so my salary income for FY21 was nil. In this way, my total annual income for FY21 was only 2.5 lacs through short and long term capital gain. As my total income in FY21 is below than exemption limit, I don't want to setoff carried forward losses of 5 lacs incurred in FY20. Do I have this choice?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
05 October 2021 No. The set off are required to be made mandatory in subsequent assessment years.
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