17 June 2011
I'm having doubt regarding cary forward of long term capital loss, when there is a long term capital gain which is exempt...
Assume there is Long Term Capital Gain of Rs.50,000/- and in the same year there is a long term capital loss of Rs.10,000/-. The above cieted GAIN is a LTCG came form sale of shares..... Now, my doubt is:
what amount of Long Term capital gain is exempt Rs.50,000/- is exempt (or) net long term gain of Rs.40,000/- is exempt... ??? Whether the long term capital loss of Rs.10,000/- can be carry forwarded ???
CAclubindia
