Long term capital gain

Thanks a lot all of you.

 there is no income so no tax. For loss no treatment, problem is that it remains in mind for long time.

@ Studentsca: Dear, loss or gains in this case has no impact for taxation. Net gains (as per books of accts.) of the year is declared under EI, for intimation to department (so that any unnecessary query may not arise). While nett loss is not declared (as department is least bothered in it). It cannot be adjusted for this year nor be carried forward for future adjustment also; so just written off in capital accounts!!  Hope, clarified your doubt. Good luck.

As far as department is concerned, it hardly matters how you have reported, unless you have tried to manipulate tax. Many such things are not noticed, and are handled differently by different professionals till date. But now CPC works digitally, and as such results....... so many defective returns u/s. 139(9)  !!!!!!!!!!!

So, chill ...........