15 July 2014
Hi, I had incurred long term capital loss due to sell of listed securities. I have the following queries regarding the same: 1. I don't have any long/short term capital gain for the current year. Can I carry forward long term capital loss? If yes, how to show it in ITR-2 (under section CFL?).
2. If I can't carry forward the loss, do I need to mention the loss in ITR-2. If yes, under which ITR section (Schedule EI?).
17 July 2014
SINCE LONG TERM CAPITAL GAIN IS EXEMPT FROM TAX UNDER SECTION 10, YOU CANNOT EITHER SET OFF OR CARRY FORWARD THE LOSS ON SALE OF SECURITIES.
CAclubindia
