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Reversal of set off of Carry Forward of loss claimed possible?
In AY 22-23 I had LTCL of 40000 & filed ITR before due date. In AY 23-24 I have LTCG of 25000. I have filed my ITR u/s 139(1) before due date. In this return I have offsetted Loss of 25000, while Carry forwarding only 15000. Now I want to carry forward my loss of 40000 and pay tax on 25000 u/s 112A which would come to zero. Would this be possible if I file a Revised Return now?
Replies (1)
No. Not possible. Set off of b/f losses is mandatory.
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