Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Carry forward losses in new tax regime

672 views

Save Share

chandar R

251 Points Posted on 28 July 2023

I am given to understand that Most of the deductions Under Chapter VI A are removed under New Tax regime.

Is the benefit of carrying forward of previous years' losses of LTCG and STCG are also not allowed or allowed under New Tax Regime?

Replies (3)

Quick Summary

The new tax regime has removed many deductions, leading to questions about carrying forward previous years' losses. This discussion seeks to clarify whether Long-Term Capital Gains (LTCG) and Short-Term Capital Gains (STCG) losses can still be carried forward and set off under the new tax rules. Understanding these provisions is crucial for tax planning.