Carry forward of speculative losses from AY 2016-17

Hello,

This is regarding the calculation of carry forward of speculation losses for 4 years. As I understand, this can be carried forward for upto next 4 assessment years from the assessment year in which the loss was incurred. However, how are four years to be interpreted?

If the loss occurred and was first reported in the ITR for AY 2016-17, can this be carried forward in the ITR that is filed in 2020, i.e. ITR for AY 2020-21? So that it would be available to be set off in the financial year 2020-21/AY 2021-22?

Thanks in advance.