Our ITR2 RECTIFICATION ORDER U/S 154 has listed our correction amount under the head 'Loss of current year to be carried forward'. Do we get to set off this loss amount in the Gains we make in the following year ie FY 2022-23? Thank you.
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ITR2 Rectification Loss Carry Forward Setoff
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Thank you for responding Simply put, our question is whether the amount reflected under the head 'Loss of current year to be carried forward' in ITR Intimation for this Financial Year can be set off against Gains in the following Financial Year? Thank you.
Read more at: https://www.caclubindia.com/forum/itr2-rectification-loss-carry-forward-setoff-585488.asp
Read more at: https://www.caclubindia.com/forum/itr2-rectification-loss-carry-forward-setoff-585488.asp
Why are u not answering here instead of inbox
I have the same query. This can be setoff against which gains? LTCG / STCG?
Melwyn Dsouza I jave leave my contact number in your inbox. Kindly call on that
Yes, you can set off your loss in the next FY 2021-22. Loss can be either from House Property or Capital Gain.
The loss carried forward to next year can be only set off under the same head.
If you have carried forward Loss from Capital Gain then you can set off the same with the capital gain income of FY 2021-22.
Thank you for the detailed response.
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