Details of Losses to be carried forward to future years

[Mohideen A]

An Individual assessee had long term capital loss for the A.Y 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17. The income tax return was filed within due date and capital loss was carried forward till A.Y 2017-18. While filing ITR for A.Y 2018-29 the carried forward loss was not reported in 'Details of Losses to be carried forward to future years' and the same was not rectified before March 2019.

1) During the current assessment year 19-20, can we claim the carry forward loss (which was not reported in previous year) and set off with capital gain of current year?

2) Is there any alternation solution in case if the above option is not feasible.

Your response is appreciated.

Thanks in advance

AI Summary

Taxpayer Seeks Guidance on Claiming Unreported Long-Term Capital Losses for 2019-20 Assessment Year An individual taxpayer experienced long-term capital losses from assessment years 2012-13 through 2016-17, which were duly reported and carried forward until 2017-18. However, these losses were not reported in the income tax return for 2018-19 and were not rectified by March 2019. The taxpayer seeks advice on whether these unreported losses can be claimed and set off against capital gains in the current assessment year 2019-20, or if there are alternative solutions available if this option is not feasible.