Mr x has incurred Long term Capital loss Rs. 1,02,590/- on disposal of shares which can not be carried forward. Does he required to show this loss in his ITR-4 for AY 2015-16 ? if yes, then where ?
21 May 2015
if the loss was incurred in AY 2015-16, then it can be both carried over and shown in "CG" sheet.
If the loss is for prior year and cannot be brought forward (on account of late filing etc), then you can ignore the same while filing AY 2015-16 return
I am little bit confused with regards to carried forward of long term capital loss. As long term capital gain from shares is exempt, we can not adjust or carried forward long term capital loss. can it be carried forward and adjust against LTCG other then on shares from AY 2015-15 ??
I am little bit confused with regards to carried forward of long term capital loss. As long term capital gain from shares is exempt, we can not adjust or carried forward long term capital loss. can it be carried forward and adjust against LTCG other then on shares from AY 2015-15 ??
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