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ITR filing on Capital gains

Others 230 views 1 replies
Short term CG is 7120
Short term CL is 34270

long term CG is 29840
Long term CL is 54376
How to show this in ITR? How the losses can be set off?
Replies (1)
Losses:The Income Tax does not allow loss under the head capital gains to be set off against any income from other heads – this can be only set off within the ‘Capital Gains’ head.

Long Term Capital Loss can be set off only against Long Term Capital Gains. Short Term Capital Losses are allowed to be set off against both Long Term Gains and Short Term Gains.

if you are not able to set off your entire capital loss in the same year, both Short Term and Long Term loss can be carried forward for 8 Assessment Years immediately following the Assessment Year in which the loss was first computed.


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