I have filed tax return for fy 2024-25 having LTCG of 118075 and also have carry forward long term loss of 94000.
So as their is exemption of 1.25lakh LTCG per annum.
So can I have still carry forward those losses becuse their is exemption of 1.25 lakh or the losses will be set off first and then exemption will be applied.
Please guide.
It will not benefit me now as I return has been processed but it will improve knowledge .
Menu
About carry forward losses and ltcg expemption of 1.25 lakh
Replies (1)
-
Loss set-off happens before exemption
-
Your ₹94,000 loss is fully used
-
Remaining ₹24,075 is covered under ₹1.25 lakh exemption
-
No loss can be carried forward
Recent Topics :
- Utilising Section 54(F) for capital gains reinvest
- GST ewaybill closure and Bill to ship to GST numbe
- TDS ON PARNTER INTEREST
- Share important chapters of ca inter costing
- Free CA Foundation Study Material - PYQs with Sugg
- INCOME TAX
- Moving from old to new tax regime after notice
- Need urgent help on notice
- ITR-3 - F&O Loss adjusted against business inc
- Error - Blank Rows in Schedule SI (ITR-2)
Related Topics :
CAclubindia
