Hi,
I had sold a property in Nov 2019 and incurred Long term Capital loss on it. It was declared in last year (FY 2019-20, AY 2020-21) ITR. This year there is no change in status of LTCL and I further need to carry it forward.
My queries are:
- Do I need to declare it in current ITR? There is no LTCG to adjust against it, so it just needs to be carried forward and not included in any IT calculations. Since it has no impact, so I am not sure.
- If so, under which schedule? Schedule CFL appears to be appropriate for it. It is asking for date of filing and amount. Is that correct schedule I am looking at?
Regards
Abhishek
CAclubindia
