Long term capital loss carry forward

368 views
User Avatar

student
92 Points Posted on 21 July 2024
I've LTCG of 65k and LTCL of 132k
can I carry forward only the net loss of 67k or full 132k?
0 Reply Share Follow
On 21 July 2024 at 17:17 Report
Replies (5)
Quick Summary
This discussion clarifies how long-term capital losses (LTCL) can be carried forward for tax purposes. It confirms that only the net loss, after offsetting any long-term capital gains (LTCG), can be carried forward. The £1 lakh exemption for LTCG only applies if there's a net positive gain, not when offsetting losses.

User Avatar

SEO Sai Gr. Hosp.
212506 Points Posted on 21 July 2024

Net loss of 67K....             

1 Reply
On 21 July 2024 at 17:18
User Avatar

student
92 Points Posted on 21 July 2024
Both LTCG and LTCG are related to shares as the LTCG of upto 1lakh is exempt can the whole LTCL of 132k be carried forward or the net amount?
1 Reply
On 21 July 2024 at 17:19
User Avatar

SEO Sai Gr. Hosp.
212506 Points Posted on 21 July 2024

Only Net loss.......

The exemption is available only if net LTCG is positive.

Reply
On 21 July 2024 at 17:21
User Avatar

student
92 Points Posted on 21 July 2024
Clear, thank you sir
Reply
On 21 July 2024 at 17:21
User Avatar

SEO Sai Gr. Hosp.
212506 Points Posted on 21 July 2024

You are welcome.               

Reply
On 21 July 2024 at 17:22

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Income tax act 2026
  2. Belated Return where Form 10IEA filed this year to
  3. GST Reconciliation Tool (2A vs Books) - looking fo
  4. TDS ON PF FORM 19 WITHDRAWAL
  5. Can a virtual office in Mumbai be used for company
  6. Eway and e invoicing in condition where 4 party ar
  7. Bank balance in ITR-3
  8. INCLUDING PROFITS FROM REIT / INVIT IN SHARE TRADI
  9. Tempsens Instruments IPO GMP Allotment Listing dat
  10. Upload Type - Correction. Not showing in TDS filli

More recent discussions | Post

Related Topics :

Loading