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Is carry forward of short term capital loss from AY01-02 still possible?

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I have short term capital loss from AY01-02 (FY 01) of 84K. 6K of this loss was adjusted towards next year Short term capital gains.

In some of next years, there were small long and short term capital gains. Based on my CA advice (who probably does not want to involve himself with FY01 return filed by me), we paid taxes as applicable. So there was no further setting off done. That means 78 K out of that is still unused. I did not know any better at the time.

I have some STCG in FY08 which I can set off against STCL which was carried forward from FY07. But I thought whether it is is still possible to set off the AY01-02 loss. In that case, I can carry forward FY07 loss for many more years still.

I have filed all returns in time, from FY05 onwards books are being maintained and audit being done.

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  1. Read this about capital gain and loss

    http://mytaxes.in/index.php?topic=30.0

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