Long term capital loss u/s 10(38)

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Dear Friends

          Can long term capital loss u/s 10(38) be carried forward..???? can we claim indexation benefit on the same???

Replies (4)

Long term capital loss cannot be carried forward because losses from fully exempted income are not eligiblle to be carried forward.

Thank You Saurabh smiley,

                BUT IS IT SUPPORTED BY ANY SECTION OR CIRCULAR OR SOMETHING???

                   

See chapter of Set -off and carry forward of losses , you will findsection no. there, its perhaps Sec 70...

ok ok il check and get back to u.........smiley


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