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Forgot to declare loss in last 2 years back ITR

Tax queries 1088 views 2 replies

Hello Experts,

I forgot to declare Long term capital gain loss of 2018-19 because I was not properly aware that loss can be carry forwarded but can I declare now in this year and set off that loss ?  

 

also Last year capital gain short term loss I set off last year and can I declare this year again and set off ?   How to verify if loss already set off last year and mistakenly used setoff twice?

Replies (2)
You cannot declare 2018-19 loss in this current year as for a loss to be carried forward, return should be filed within time and loss to be carried forward should have been claimed.

Download Detailed ITR Form and check Schedule CFL AND BFL
In financial accounts there are some place of adjustment but in income tax this is not possible.


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