Capital Gain

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Jitender (Querist)
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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

CA MANISH SAXENA (Expert)
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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!

Jitender

Jitender (Querist)
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05 September 2016 Sir in my case there is long term gain on account of sale of MF.

CA MANISH SAXENA

CA MANISH SAXENA (Expert)
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05 September 2016 Yes, I specifically included "Sale of MF" in my answer..!

Please read again!

Jitender

Jitender (Querist)
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05 September 2016 okay sir.. thank u very much