Long term and short term capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 January 2012
I want to know whether long term and short term capital gain is taxable. Also whether long term capital loss and short term capital loss could be taken as set off while computation of tax liability.
Also I want to know whether rent is laible to service tax.If yes what is the limit and what is the rate of tax
Also I want to know whether rent is laible to service tax.If yes what is the limit and what is the rate of tax
17 January 2012
LTCG is taxable @20% under section 112 exception is being if the shares,bonds are listed in recognised stock exchange then will exempt from tax.
STCG is taxable @15% under section 115 if listed in recognised stock exchange otherwise will come under the purview of slab rate along with other head of incomes.
ST capital loss can be adjusted against LTCG however LT capital loss cannot be adjusted against STCG.
Rent is liable to TDS under section 194I of income tax act 1961 @2%
STCG is taxable @15% under section 115 if listed in recognised stock exchange otherwise will come under the purview of slab rate along with other head of incomes.
ST capital loss can be adjusted against LTCG however LT capital loss cannot be adjusted against STCG.
Rent is liable to TDS under section 194I of income tax act 1961 @2%
Message likes :
1 times
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
