What to fill in CFL,CYLA, BFLA in the ITR?

Income Tax Income from Capital Gains
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@anitabhadra @AkashJhaveri @CA_Jayni_Bhavsar @Surbhi_Pal

Hello members kindly help me pls :pray:t2::pray:t2:

I have short term capital loss (of year 2022-23) ONLY that i want to carry forward , no trades in financial year 2023-24.

  1. Is it compulsory to file ITR ? What to fill in CFL , CYLA , BFLA ??

  2. previous year(2022-23) loss is showing only in CFL , but CYLA , BFLA is showing all (zeros) 0 , is it correct ?

  3. Previous year losses will only reflect in CFL and not in CYLA , BFLA ?

  4. Do I need to change CYLA , BFLA manually i.e. myself ?

  5. Do I need to fill any more schedules like 111A,112A , Schedule CG, AMTC, AMT ??

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Dear Harsh
Pointwise reply of your queries are as follows:-

  1. Yes , it is compulsory to file ITR in order to carry forward your losses.

  2. Since there is nothing to adjust in the current year so BFLA and CYLA is NIL , it is carried forward for next year and reflected in CFL .

  3. As indicated in Point 2.

4 Not required to change .

  1. If no trades in the current year , these schedules are not required to be filled.

Hope this helps.

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Hello @anitabhadra ma’am,
Thanx for ur reply but pls clarify (as I m novice and still confused :sob:)
Only in CFL will previous year losses reflect,

BFLA ,CYLA being 0 is correct ? (i thought BFLA means brought forward loss so it should have previous year losses )

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Dear Harsh

To the best of my limited bookish knowledge , if your B/F losses are not getting adjusted in current year , you need not to do anything.

Still , you have option to check before submission of return.

In fact , we just need to check & confirm these schedules. Nothing is required to be entered manually.

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Ohk thanx a lot @anitabhadra ma’am :pray:t2::pray:t2::pray:t2::blush:

Actually i was a bit worried and confused so confirmed again.

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No issue
Feel free for any further clarification.

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Hey @harshn,

The queries have been rightly answered by @anitabhadra.

If the losses were reported in FY 22-23, they’ll be carried forward. As they are not being adjusted adjusted in the current FY, the values under BFLA and CYLA will be zero.

Yes.

No further changes are are needed.

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