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Loss under the head Capital Gains - Section 74 - Income Tax - Ready Reckoner - Income TaxExtract Loss under the head Capital Gains - Section 74 Brought forward Long term capital loss Can be set off against current year Long term Capital Gain Brought forward Long term capital loss Cannot be set off against current year Short term Capital Gains Brought forward Short term capital loss Can be set off against current year Short term Capital Gains Brought forward Short term capital loss Can be set off against current year Long term Capital Gain NOTES:- Such capital losses can be carried forward to a maximum of 8 AYs, immediately succeeding the AY for which the loss was first computed. It is necessary that a return of loss is furnished before the due date prescribed u/s 139(1) .
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