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 Topic
- Gift recd from brother
- How to show Loan write off in DPT 3?
- Form 10E and Salary arrear
- LTCG U/S 54F. Sale of property plus sale of share
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
Related Topics
CAclubindia
