As a Private Limited Company, I have significant long term capital gains from sale of shares in a non listed joint venture. The holding company has neglible profit but significant TDS deducted. Can I use the TDS to set off my Capital Gains tax?
Ashok
Hi Ashok,
Yes you can use TDS already deducted against tax on capital gains. As you have already extra tax deducted & deposited in Govt Accounts, so no need to pay again tax on LTCG.
Thanks
Harpreet Singh
CCI
Pro
CAclubindia
