LTCG loss not getting deducted from total taxable income
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If I got only LTCG loss from mutual funds, can I offset it against my salary income? I see that when I fill ITR2, the loss amount is not getting deducted from my total income for final tax calculation.
Or it will need to be adjusted next year with any gain from mutual funds? If I forget to offset it next year, can it be used to offset any subsequent years?
Also, suppose if the same person earns rental income, can that mutual fund loss be adjusted against this rental income?
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It can be adjusted against LTCG only. You can carry forward the loss for 8years.