loss on Shares

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MANAGER
40 Points Joined July 2014
hi, if a person has lost a good amount of funds in equity shares, can he take the rebate if the loss in his ITR.

if so what's is the procedure

pls guide

regards
Bikram
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On 16 July 2019 at 18:32 Report
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SEO Sai Gr. Hosp.
208868 Points Joined July 2016

If Long Term Capital loss, declare the same in ITR (File it before due date) & claim the losses against any other LTCG in same year or next 8 years by carry forward facility.

For intraday loss, it can be set off against any speculative income and allowed to carry forward for next 4 years.

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On 16 July 2019 at 18:53
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MANAGER
40 Points Joined July 2014
what if there is no long term gain , then can I claim the loss in this year .. or do I have to compulsory take it forward for next 8 years
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On 16 July 2019 at 19:45
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SEO Sai Gr. Hosp.
208868 Points Joined July 2016

You have to carry forward the LTCL for adjustment against LTCG only.

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On 16 July 2019 at 19:48
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MANAGER
40 Points Joined July 2014
okk... thanks you if I have any other query I will msg

thanks
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On 16 July 2019 at 20:04
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MANAGER
40 Points Joined July 2014
Thanks Vivek for the details
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On 12 December 2019 at 11:21


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