Efiled itr-1

tjr (Retired) (148 Points)

22 April 2013

Efiled ITR-1 for Assessment Year 2012-13. so not shown LTCL

But there was a LTCL of Rs.22500/- Can I carry this loss forward for Assessment Year 2013-14

Kindly Advice

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SUNILKUMAR WADHWANI (Chartered Accountant) (320 Points)
Replied 22 April 2013

ITR 1 IS FILED FOR FOLLOWING INCOMES-

income from salary/pension:or
Income from one house property(excluding where loss brought forward from previous year):or
Income from other sources( excluding winnings from lottery and income from races horses).

LONG TERM CAPITAL GAIN IS NOT COVERED HERE.

YOU HAVE TO FILE ITR 2.

YOU CAN CARRY FORWARD THE LONG TERM CAPITAL LOSS

EXCEPT ON SHARE FOR 8 YRS...

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tjr (Retired) (148 Points)
Replied 24 April 2013

capital loss has to declared in ITR2 or only record has to be kept with us?

CA. Arpita Singhal (Partner) (100 Points)
Replied 24 April 2013

Originally posted by : tjr

capital loss has to declared in ITR2 or only record has to be kept with us?

Loss should be declared in the Return and Return should be filed with in the due date..

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