IN THE YEAR 2022-23 I SOLD SOME SHARES IN LOSS. SOME 1.50 LAC LOSS WAS THERE. THIS LOSS CAN BE CLAIMED FROM LTCG TAX?

I have brought forward LT capital loss (LTCL) amount which can be set-off against the current year's LT capital gain (LTCG) against sale of equities. The LTCL is in excess of my current year's LTCG. The income tax site is automatically setting off the full LTCG for the current year against my brought forward LTCL. However, LTCG to the extent of Rs 1 lac is in any case exempt from tax as per section 112A. So the automatic set off of the LTCL against the LTCG should be to the extent of the amount of LTCG in excess of Rs 1 lac. As this facility is not permitted by the current software (I have not been able to locate it), could you please advise me how to proceed in this regard.

Can the TAX on LTCG earned from sale of House property be set off by loss in sale of another house after 3 years of LTCG earned. The LTCG amount is kept in CGSS of SBI

Hi, I had made an investment in purchase of an office block at Rs.97,50,000/- in Navi Mumbai in February 2017, when the market value was Rs.74,00,000/- and I sold it for Rs.1,10,00,000/- in Februay 2024, when market value was Rs.90,00,000/- The expenses incurred in stamp duty & registration while buying it was Rs.6,50,000/- & Rs.4,00,000/- on improvement. While filing my ITR2, I have filled-in the relevant information under "CG" and the system is now showing that I have made a profit of - (minus) ~Rs.30,00,000/-, apparently considering the 7-year indexation. IncomeTax system is allowing me to to carry forward this loss (CFL) to next year. My question is: Can I use this minus tax liability for my LTCG during next year? I must also mention here that I had earned a rental income of Rs.52,00,000/- during these 7 years on which I have paid taxes each year. Grateful for your confirmaton.

Sir, My annual income in I T return after deduction is only 1.5 lakhs due to bank intrest. Now i sold 300 shares which we purchased way back in 1996. LTCG is rs.3 lakhs after waiver of rs 1.25 lacs. With this my annual income is still below taxable limit as per I T norms Do I have to pay any LTCG tax ?