Hi,
Apart from individuals, do corporations pay LTCG & STCG?
What class of companies are taxed LTCG & STCG?
Txs.
5 Replies
CA Raj Doshi
(Practising CA)
(8944 Points)
Replied 30 May 2020
Yes. Corporations too pay LTCG and STCG. It is the nature of income which decided LTCG AND STCG, not the class of company.
e.g Profit/loss of sale of mutual fund , profit/loss on sale of investment property, profit/loss on sale of fixed assets ( provided there are no assets in the block)
These are examples of some incomes which could be LTCG /STCG assuming these are not the principal business activities of the corporation.
e.g Profit/loss of sale of mutual fund , profit/loss on sale of investment property, profit/loss on sale of fixed assets ( provided there are no assets in the block)
These are examples of some incomes which could be LTCG /STCG assuming these are not the principal business activities of the corporation.
yasaswi gomes
(My grammar is 💯 good I)
(7296 Points)
Replied 30 May 2020
@ Raj C Doshi
Thank you. So if a business holds these instruments, they have to file for capital gain taxes then.
Himanshi Garg
(Ca Article)
(354 Points)
Replied 30 May 2020
Yes they will require to deposit tax on their Short/Long Term Capital Gains
CA Raj Doshi
(Practising CA)
(8944 Points)
Replied 30 May 2020
Yes. They will have to offer capital gain income on the same.
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