Long term capital loss.. can be carry forwarded...???

See, you've clearly started with long term capital gain which is exempt.

So you cant mention the net long term capital gain as Rs.40,000.

Tax implication in your case is:

L.T.C.G of Rs. 50000 is fully emempt.

Capital loss of Rs. 10,000 can be set off against any other taxable capital gain (if any) u've in that Financial Year. If you dont've such, then carry forward that 10,000 to the subsequent year and set it off against any Taxable L.T.C.G within 8 years.

YA  AGREED WITH SHRUTI

BECAUSE EXEMPTED INCOME/LOSS CANNOT BE SET OFF OR CARRIED FORWARD

"If income from a particular source is exempt from tax E.g; Income exempt from tax under section 10, loss from such source cannot be set off against income chargeble to tax"

i had read the above sentenced provision in SINGHANIA BOOK . From this we may say that Rs.10,000 loss cannot be carried forwarded????

Exactly ...

I'll give you an example.

Cc, Capital gain arised on long term listed securities which sufers security transaction tax (STT) is fully exempt u/s 10(38).

If you incur loss on such long term listed securities then you cant carry forward the loss of it since its corresponding gain is exempted.

Yes, Mr. Hitesh Absolutly right,

"If any income which is exempt from tax (Like Long Term Capital Gain arises from Shares is exempt U/s 10(36)) than Loss from such income niether set off in current year and nor carry forward in next year from Incomes which is chargeable to tax."