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STCL can be carried forward for 7 years

Jul 12,2008

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I am a government servant. I recently heard that short-term capital loss (STCL) can be carried forward up to seven years, but what about long-term capital loss? If it cannot be forwarded then is it not advisable to book loss this time to adjust against profit of a later date? ??Yes, you are right that the short-term capital loss can be carried forward to the next eight assessment years if it cannot be set-off against the current year's long term or short-term capital gain.
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