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
CA MANISH SAXENA
(Expert)
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.
CA MANISH SAXENA
(Expert)
05 September 2016
Yes, I specifically included "Sale of MF" in my answer..!
Please read again!
Please read again!
ACA Anurag
(Expert)
05 September 2016
Hope your query is resolved
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