ST & LT CG setoff against carried forward LT & ST CL

skin zzz (19 Points)

20 January 2024  

Hi Expers

i have a small query.

i have carried forwarrd losses from previous years,  LTCL 5k and STCL 10k.

if i make LTCG of 50k in this year, can i adjust both of the previous years carried forward losses against this years LTCG ?

i.e. 50k LTCG - 5k Carried forward LTCL - 10k carried forward STCL = 35k taxable ?

kindly advise.

thanks