Long term capital gain
Malhar Deshpande (212 Points)
12 May 2017Malhar Deshpande (212 Points)
12 May 2017
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 12 May 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178281 Points)
Replied 12 May 2017
Can long term capital gain in shares where stt is paid set off with long term capital loss in share with stt paid |
YES, for same financial year!
Studentsca
(CA Practice )
(3577 Points)
Replied 12 May 2017
S.K.Jha
(student)
(265 Points)
Replied 12 May 2017
Dear Malhar Sir,
Long Term Capital Gain on shares on which STT is paid is liable to tax @ 15% u/s 111A.
Malhar Deshpande
(212 Points)
Replied 12 May 2017
Thank you Sir. Sir I made long term capital gain of rs 12000 by selling shares of one company and long term capital loss of rs 4000 by selling shares of another company in same financial year, in both cases stt paid, then while showing gain in itr form should I write long term gain as 12000 or as 8000 please advice
S.K.Jha
(student)
(265 Points)
Replied 12 May 2017
LTCG - Rs 12,000
LTCL - Rs. 4,000
After Set-off
LTCG - Rs. 8,000
Tax - @ 15% u/s 111A
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178281 Points)
Replied 12 May 2017
LTCG as Rs. 8000/- Under EXEMPTED INCOME
Studentsca
(CA Practice )
(3577 Points)
Replied 12 May 2017
S.K.Jha
(student)
(265 Points)
Replied 12 May 2017
Respected Sir,
Why Rs. 8,000 is exempted ? plz reply sir
Malhar Deshpande
(212 Points)
Replied 12 May 2017
Sir, long term capital gain is tax exempt and STCG is charged at 15%
S.K.Jha
(student)
(265 Points)
Replied 12 May 2017
Respected Malhar Sir,
Tax on Long Term Capital Gain on which STT is paid exempted u/s 10(38).
sorry i told you about STCG
Thanks to all. Here I learn something