02 July 2024
Dear Sir, My query is as follows: Mr A incurred Long Term capital loss of Rs. 520000/- in AY 2022-23. He disclosed all details in the ITR and filed it. However, during AY 2023-24 there was no capital gain or loss and he somehow forgot to show LTCLoss brought forward in the ITR of AY 2023-24.
In AY 2024-25, he has a long-term capital gain of Rs. 125000/-. Can he still show LTCLoss of Rs. 520000/- in ITR of AY 2024-25, which he forgot to show in the previous year ITR? and claim set off against LTCGain of Rs. 125000/-?
CAclubindia
