Would appreciate if someone can answer this. Especially if you are a CA.
If I bought a property back in 2018 for 80L and sold now for 60L (because my luck if very bad and investment turned out to be bad), I read that I can carry forward the Long Term Capital Loss (LTCL) for next 8 years. Also, I can consider indexed value which means the calculations seems to be...
Below...
363 - CII value for 2024-25 Year
280 - CII value for 2018-19 Year
(80L x 363) / 280 = 1.04 Cr
So capital loss would be ideally 1.04 Cr - 60L = 40.04L right?
If so, then any equity sale I do in next 8 years and fall under LTCG and I can offset all those LTCG against this loss, right?