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