If long-term capital loss is arising from equity mutual funds, you cannot carry forward the loss since the gains are tax exempted. If long-term capital loss is arising from debt mutual funds, i.e 36 months, you can carry forward it for the next 8 assessment years. Hence you would need to invest Rs 1 lakh each year u/s 80C. For income generation you need to invest into bank fixed deposits @ 7.5% with a capital of Rs 10 lakh. So your total tax-free income in hands will be Rs 27900 per month from investments and Rs 6000 from pension, totalling Rs 33900 per month.

Source: Economic Times July 25, 2016 12:45 UTC