captal gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 July 2011
dear friends, pls help me i have a doubt regarding capital gain...... eg:Mr.X has investment in mutual fund...he took 500 units of tatal mutual fund on 20.8.2007 @ Rs.50000.. on 12.10.2010 he swith out from this mutual fund scheme to another scheme of tata..on that date nav of old scheme was Rs.38000....my doubt is Rs.12000 (50000-38000) is to be treated as long term capital loss or not?.pls reply............
20 July 2011
its long term capital loss,
capital loss can be forwarded or not .....for that look into STT payment, if STT paid on switchover then no carry forward, otherwise u can carry forward upto 8 years for set off
capital loss can be forwarded or not .....for that look into STT payment, if STT paid on switchover then no carry forward, otherwise u can carry forward upto 8 years for set off
Message likes :
1 times
20 July 2011
Yes, it is clear that the old units have been transferred and new units have been purchased in a different scheme. New units are different from the old one in any manner.
It will be a long term capital loss.
It will be a long term capital loss.
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
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Refund of AY 22-23
- TDR receipts for agreement holder
- Inventory of finished goods
- Filing of Form 10BB instead of Filing Form 10B
- Sale of property furniture sale
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Confusion around Form 26QB fields
- MODEL FILLED AUDIT REPORT FOR TRUSTS IN FORM 10B
- 115TD on cancellation of 12A 80G Registration
- MIS MATCH OF INVOICE NUMBER
- 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
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
- Need to correct "Whether it is last installment " response in Form 26 QB
- GSTR3B IMS Deshboard ( Rec. Solution )
Trending Online Classes
CAclubindia
