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
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.
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