whether it is mandatory to disclose in ROI the losses incured from shares and mutual funds?
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Quick Summary
It is advisable to disclose losses incurred from listed equity shares and mutual funds in your Return of Income (ROI). While not strictly mandatory to declare if you wish to avoid it, disclosing these losses allows you to carry them forward and set them off against future capital gains, potentially reducing your tax liability. Remember, long-term capital losses can only be offset against long-term capital gains.
It's better to disclose the loss incured from listed equity shares ( whether short term capital loss or long term capital loss ). You will only be benefitted in the future. This loss can be carried forward in the future and can be set off against any Capital Gain from Listed Equity Shares.
NOTE : Long Term Capital Loss can be set off only against Long Term Capital Gains. [ Section 70(3) ].
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