Vijayan Middey (Service) 27 January 2021
While filing ITR, I have not filled the losses of the earlier years. However as per Assessment Order of respective years the carry forward losses are depicted as 'Current Year Losses Carried Forward". If I want to set off 2020-21 losses against the losses of 2016-17, whether the same is allowed?
Vijayan Middey (Service) 28 January 2021
In the income tax return, one has to enter the earlier years' losses. I have not done so. But my respective assessment order shows the carried forward losses of each year as per details below. My query, is it possible to set off the gains of respective heads, even my latest assessment order shows the amount of Rs, 101760 only.
|Short Term Capital Gain||155355||0||155355|
|Long Term Capital Gain||53825||101760||155585|