How to utilize LTCL only while utilizing LTCG Exemption of 1.25 L and Carry forward losses

You cannot utilize the ₹1.25 Lakh exemption while simultaneously carrying forward the full ₹2 Lakh loss. The ITR will first subtract the loss from the gain. In your case, your taxable LTCG will be ₹0, and you will carry forward a loss of ₹75,000 to future years. The ₹1.25 Lakh exemption is not utilized because there is no "Net Gain" left to exempt.

thanks

But isn't defy the very purpose of providing exemption limit??? , which is to reduce effective tax for LTCG, since LTCL can be carry forward, accordingly LTCg should also adjusted for effective tax exemption/rates utilization... LTCg anyhow is a Long term returns