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      Question

      Any long-term capital loss can be carried forward to the

      next following eight assessment years and can be set off only against _______ in those years.
      A short-term capital gain Correct Answer Incorrect Answer
      B long-term capital gain Correct Answer Incorrect Answer
      C income from house property Correct Answer Incorrect Answer
      D income from other sources Correct Answer Incorrect Answer

      Solution

      Any long-term capital loss can be carried forward to the next following eight assessment years and can be set off only against "long-term capital gain" in those years. Long-term capital losses can be carried forward and set off against long-term capital gains in subsequent years, but they cannot be set off against short-term capital gains, income from house property, or income from other sources.

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