How to file LTCG Loss correctly Through ITR-2 for AY2019-20

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Dear I.T. Experts,

During AY2019-20( Fy2018-19), I sold a number of MF holding that were held for long time and making loss/low return. Overall LTCG LOSS with Long Term Indexation was Rs - 105904 (negative because loss; it is as per icicidirect.com tax calculation report; Rs - 38970 in Debt fund, and rest in Equity Hybrid fund). 

I files ITR-2 with -Rs 105904 as Long Term Capital Gain on Sale of Capital Asses. (Schedule CG - Section B ; 4f )

 I have received as notice u/s. 143(1)(a)  - it says: 

There is inconsistency in the amounts/Totals entered in schedule CG OR Taxpayer is claiming deductions u/s 54 which are more than the amounts allowable as per the respective sections.

 Can someone please help what would be the correct way to file here?

I am attaching a screenshot of how I files the Schedule CG. 

Many thanks in advance for your kind help.

Regards,

S. Das


Attached File : 1418984 20191222145215 schedulecg ltcg loss.jpg downloaded: 125 times
Replies (1)

Just to add a little more - I understand long term capital loss can only be set off against long term capital gain. So in my return, it is only shown as a Carry Forward Loss, so that I can adjust it against LTCG in next few years.


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