Long term capital gain tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 December 2011 PLEASE CLARIFY WHETHER A COMPANY CAN ADJUST LONG TERM CAPITAL GAIN TAX PAYABLE WITH TDS ON INTEREST ETC? OR DOES IT HAS TO DEPOSIT TAX SEPARATELY EVEN THOUGH IT HAS SUFFICIENT TDS AMOUNT?

Querist : Anonymous

Querist : Anonymous (Querist)

12 December 2011 PL CLARIFY

anurag

anurag (Expert)
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12 December 2011 LTCG Tax has to be set off from the TDS and the advance tax alredy paid.
there is no need to deposit tax even if there is sufficient tds amount.
I hope this concept shd not be confused with the setoff principle where long tern capital loss can be set off only from the LTCG.

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Guest

Guest (Expert)

12 December 2011 Agree with Mr. Anurag.