Long term capital loss u/s 10(38)

Long term capital loss cannot be carried forward because losses from fully exempted income are not eligiblle to be carried forward.

Thank You Saurabh ,

                BUT IS IT SUPPORTED BY ANY SECTION OR CIRCULAR OR SOMETHING???

See chapter of Set -off and carry forward of losses , you will findsection no. there, its perhaps Sec 70...

ok ok il check and get back to u.........