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Set off of Long term Capital Loss on sale of equity shares


R.Akhila (Student CA )     25 June 2019

R.Akhila
Student CA  
 2 likes  61 points

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As the amended section 112A taxes Long Term Capital Gain on sale of enquiry shares @ 10% if capital gain exceeds rs.1 lakh, I believe the Long Term Capital Loss on such sale will also be allowed for set off and carry forward now..
ITR 2 Java Utility updated on June 15th is not reflecting the set off or carry forward.
Is the set off allowed ?
Also can it be set off against Long Term Capital Gain on sale of house property ?
kindly help resolve the issue.
thank you

avater

Dhirajlal Rambhia (KVO Merau Kutchh)     26 June 2019

Dhirajlal Rambhia
KVO Merau Kutchh 
 9221 likes  93310 points

View Profile | My Other Post

 
 

As the amended section 112A taxes Long Term Capital Gain on sale of enquiry shares @ 10% if capital gain exceeds rs.1 lakh, I believe the Long Term Capital Loss on such sale will also be allowed for set off and carry forward now..

YES

ITR 2 Java Utility updated on June 15th is not reflecting the set off or carry forward. Is the set off allowed ?

YES

Also can it be set off against Long Term Capital Gain on sale of house property ?

YES

2 Like

R.Akhila (Student CA )     26 June 2019

R.Akhila
Student CA  
 2 likes  61 points

View Profile | My Other Post

thank you for your reply sir . But in ITR 2 Java utility it is nullifying the loss..the loss is not reflecting in long term capital gain schedule, shown as zero. What can I do to correct it ?

Santosh Iyer (Retired)     29 June 2019

Santosh Iyer
Retired 
 1 likes  27 points

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I am having the same problem. I have long term capital loss on shares. But this is not getting reflected in Java utility for ITR2. The net result is shown as 0. Hence I am unable to set off this loss against vother long term capital gains or carry it forward.

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