Suppose A ltd. for AY 11-12 has business loss of Rs. 100 thousands and Long Term Capital Gains on sale of equity shares [not exempt u/s 10(38)-] of Rs. 120 thousands. What is the net taxable income & tax liability of A ltd for AY 11-12?
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Tax on capital gains.
Replies (13)
u can adjust your business loss with ltcg...... net taxable income will be 20 thousand
as per my opinion, non spec. business loss will be set off against ltcg and
taxable income will be Rs. 20,000/- only
so no tax liability
| Originally posted by : Sunshine... | ||
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u can adjust your business loss with ltcg...... net taxable income will be 20 thousand |
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Agreed.
i really agreed with u all........u can adjust ur business loss with ltcg...
PGBP LOSS CAN BE SET OFF AGST ANY HEAD EXCEPT SALARY INCOME..
PROVIDED ITS NOT THE SPECULATIVE LOSS. REFER SEC 74 & 75
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ya u can adjust business loss against LTCG.
I AM AGREED WITH ALL ABOVE OPINIONS
TOTALLY AGREED... NET TAXABLE INCOME 20,000
As decided.. Net taxable income will 20000/- :)
Agreed with all the above replies.
good morning sir,
Dear sir,
i have income from salary Rs. 158292/- (after all deduction) and STCG from equty share as per detail attached. kindly tell me what income tax comes to ?
Tara Chand
09968454122
tca_1981 @ yahoo.com
158292 +4131 = 162423-160000=2423 ( rounded up 2420)
Tax thereon @ 15% u/s 111A = 363
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