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Can I Carry Forward Capital Loss Even With Capital Gains?

T S Khurana |310 Answers |Ask -Follow

Tax Expert - Answered on Aug 05, 2024

A certified management accountant since 1993, T S Khurana is a fellow member of The Institute of Cost Accountants of India. His areas of expertise are income tax, specifically litigation cases, and GST.

Since the last 21 years, he has also been providing expert advice on financial matters, including investments and diversification of funds, and wealth building in the long term to his clients.
He believes that investment in real estate is the safest way for better returns and wealth generation over a period of time.

A former chairman of the Chandigarh Chapter of Institute of Cost Accountants of India, T S Khurana has also served as member of its technical committee.... more

Asked by Anonymous - Jul 24, 2024Hindi

Money

Hi Sir, My son has total income of rs 329000 (after deductions ) which includes LTCG of rs 232000. He also has carryforward losses of rs110000 from FY21 22. Can he carry forward the capital loss of 110000 to future years without adjusting in FY 23 24 (since he has capital gains of rs 232000)? please clarify the rule regarding the same. Thanks in advance.

Ans: Yes, you can carry forward Capital Loss & adjust the same in the coming years. I can't quote you specific rule, but you can carry forward the Capital Loss to next years.
Most welcome for any further clarification. Thanks.

Asked on - Aug 06, 2024 | Answered on Aug 06, 2024

Sir , Thank you very much for your Answer.

Ans: Most welcome Sir. Thanks.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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[TAX] I have salary income along with capital gains and speculative income. My question is, if I choose new regime, can I carry forward losses like business loss, capital gain loss to next year like we do in old regime?

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Asked by Anonymous - Jul 28, 2024Hindi

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Sir, My son has following income, Net salary 87845 as per form 16, FD +Dividends - 54576, LTCG 237494, deductions 51080 so total income of 329005. He has carried forward capital loss of 110000. Is it possible to set off capital loss of 110000 in future years instead of fy 23 24 as he is already below taxable limit? please help. Thanks in advance

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Hi Sir, I am retired and 63 years old. Having 50 lacs in equity.1.5 cr MF, 25 lacs in SCSS.expected landproperty sale of 4.5 cr also having own house and no education or marriage expenses of children. Medical insurance of 10 lack for me and wife. However intended to buy a residential property of 3 cr to get relax from capital gain post selling the land. And same will be given to daughter later. Need monthly expenses of 1.25 lack. Since market is too volatile. Kindly suggest way forward.

Ans: Dear Pralhad,
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Sir mene 11th dubara Kari hai matalab 10th ke baad 1 year gap hai to ise mujhe jee mains aur advanced ya kisi aur job me problem to nahi aayegi

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My son is working in an multinational energy company. Work culture is very good, salary also good. He did his B.Tech in CSE in the year 2023. He is working as a Software Eng. in the ERP section. My son is interested more coding related job. He has a GATE (2023) score of 581 (Gen cat). My questions are 1) Is it advisable to do M.Tech in CSE using his GATE score? If yes, then which top Colleges can be preferred? 2) Or, will he continue his present job for few more years to gain experience ++ 3) Or, to switch to a new company? Thanks in advance.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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