If I have 10,000 realised losses(Short Term Capital Gains Loss) in March 2024(bought and sold in March itself) and I register 10,000 profit(Short Term Capital Gains Profit) in April 2024, can I balance them or will I have to pay tax on the profit at the end of 2024-25 financial year?
Yes, you can carry forward your losses for 8 years, as long as you file your return before the due date.
Hey @VikasYadav,
Your STCL will be reported for FY 23-24 as the transaction took place in March 2024. If you do not have any realised profits in FY 23-24 against which these losses can be set off, then they will be carried forward.
If the losses are carried forward, you can set off the profits from FY 24-25 in the relevant assessment year.
Hope this clarifies.