Set off

Loss of  LOng term capital gain can be set off upto next 8 assessment years.

so you can set off the loss of A.Y. 2002-03 first.

Dear Urvi,

First  Current year losses are set off & hence STCL - Rs. 14,30,134 is to be set off.

And the remaining STCL OF AY 2009-10 WILL BE CARRIED FORWARD

Yes Amir is right

i not seen that it is short term capital loss, i think it is short term capital gain.

shouldnt C.Y. STCL be first set off aginst LTCG and then B/F LTCL

Can't got your point

plz clearify.

 Dear Jitendra,

Firstly, the LTCL of 2002-03 is set off against current years LTCG & then next years' loss is set off because it can be carried forward only for next 8 assessment years. This years' remaining loss can be carried forward to next 8 Assessment years. Hence it is suggestable to set off loss of 2002-03 first.

i completely agree with Amir......first current year STCL will be adjusted against current year LTCG and the remaining STCL of A.Y.2009-10 will be carried forward.........