Capital Gain
This query is : Open
05 September 2016
In the current year ABC Ltd has business loss of Rupees around 1500000 but in the current year CO has earned long term capital on sale of mutual fund.
kindly help me in calculating the tax amount for the purpose of Advance tax.
aà
CA MANISH SAXENA
(Expert)
05 September 2016
Hi Jitender,
Long Term Capital Loss arising out of Sale of MF. Shares etc on which STT has been paid is not eligible for set off with any Income in fact this is a dead loss.
So you need to pay advance tax on LTCG depends when you realised that e.g.If the gains are realised before September 15, one has to pay at least 30% of the total tax on or before September 15, at least 60% before December 15 and 100% before March 15.
Hope i Resolved your concern!
Thanks!
Long Term Capital Loss arising out of Sale of MF. Shares etc on which STT has been paid is not eligible for set off with any Income in fact this is a dead loss.
So you need to pay advance tax on LTCG depends when you realised that e.g.If the gains are realised before September 15, one has to pay at least 30% of the total tax on or before September 15, at least 60% before December 15 and 100% before March 15.
Hope i Resolved your concern!
Thanks!
05 September 2016
Sir in my case there is long term gain on account of sale of MF.
CA MANISH SAXENA
(Expert)
05 September 2016
Yes, I specifically included "Sale of MF" in my answer..!
Please read again!
Please read again!
ACA Anurag
(Expert)
05 September 2016
Hope your query is resolved
we are closing your query
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
