If you have a capital loss in the financial year, it should be reported when filing your Income Tax Return.
Here are the rules to Set Off Loss for the current financial year:
|Set Off||Long Term Capital Gains||Short Term Capital Gains|
|Long Term Capital Loss||Yes||No|
|Short Term Capital Loss||Yes||Yes|
To carry forward loss, you need to report it when filing your income tax return.
- Navigate to Additional Details Tab
- Click on Brought forward losses and add
- Loss from sale of capital assets under CG Loss as Short Term or Long Term
Note: Loss can be carried forward only when return has been filed on or before the due date.