Long term loss can be carry forwarded....????
This query is : Resolved
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 ???
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 ???
17 June 2011
EXEMPT INCOME DOES NOT FORM PART OF TOTAL INCOME
IN THIS CASE 10000 WILL BE C/FD AS LTCL TO BE SET OFF IN NEXT YEAR
CA MANOJ GUPTA
JODHPOUR
09828510543
IN THIS CASE 10000 WILL BE C/FD AS LTCL TO BE SET OFF IN NEXT YEAR
CA MANOJ GUPTA
JODHPOUR
09828510543
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