40. Carry forward of loss under the head "Capital gains".-
(1) Where, in respect of any assessment year, the net result of computation of income from any source under the head "Capital gains" is a loss, it shall be set off only against income from any other source falling under that head and assessable for that year.
(2) Where, for any assessment year, any loss computed under the head "Capital gains" has not been wholly set off under sub-section (1), so much of the loss as has not been so set off, or the whole loss where the assessee has no income from any other source falling under that head, shall, subject to the provisions of this Ordinance, be carried forward to the next following assessment year, and-
(a) it shall be set off against income, if any, of the assessee under that head and assessable for that year; and
(b) if the loss cannot be wholly so set off, the amount of loss not so set off shall be carried forward to the next assessment year and so on for not more than six successive assessment years.
(3) Where, in respect of any assessment year, the loss computed under the head "Capital gains" does not exceed five thousand taka it shall not be carried forward and where it exceeds five thousand taka only so much of such loss shall be carried forward as exceeds five thousand taka.
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