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Can I Carry Forward Capital Loss Even With Capital Gains?

T S Khurana

T S Khurana   |96 Answers  |Ask -

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
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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
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Sir , Thank you very much for your Answer.
Ans: Most welcome Sir. Thanks.
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