Capital Gain
This query is : Open
05 September 2016
In the current year ABC Ltd has business loss of Rupees around 1500000 but in the current year CO has earned long term capital on sale of mutual fund.
kindly help me in calculating the tax amount for the purpose of Advance tax.
aà
05 September 2016
Hi Jitender,
Long Term Capital Loss arising out of Sale of MF. Shares etc on which STT has been paid is not eligible for set off with any Income in fact this is a dead loss.
So you need to pay advance tax on LTCG depends when you realised that e.g.If the gains are realised before September 15, one has to pay at least 30% of the total tax on or before September 15, at least 60% before December 15 and 100% before March 15.
Hope i Resolved your concern!
Thanks!
Long Term Capital Loss arising out of Sale of MF. Shares etc on which STT has been paid is not eligible for set off with any Income in fact this is a dead loss.
So you need to pay advance tax on LTCG depends when you realised that e.g.If the gains are realised before September 15, one has to pay at least 30% of the total tax on or before September 15, at least 60% before December 15 and 100% before March 15.
Hope i Resolved your concern!
Thanks!
05 September 2016
Sir in my case there is long term gain on account of sale of MF.
05 September 2016
Yes, I specifically included "Sale of MF" in my answer..!
Please read again!
Please read again!
05 September 2016
Hope your query is resolved
we are closing your query
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- Confusion around Form 26QB fields
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
