4 Replies
Saurabh Maheshwari
(B.com,ACA)
(5923 Points)
Replied 23 July 2012
Long term capital loss cannot be carried forward because losses from fully exempted income are not eligiblle to be carried forward.
Narayanan H
(Trainee)
(100 Points)
Replied 23 July 2012
Thank You Saurabh 
,
BUT IS IT SUPPORTED BY ANY SECTION OR CIRCULAR OR SOMETHING???
Saurabh Maheshwari
(B.com,ACA)
(5923 Points)
Replied 23 July 2012
See chapter of Set -off and carry forward of losses , you will findsection no. there, its perhaps Sec 70...
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