Capital gains taxes

Tax queries 366 views 5 replies

Hi,

 

Apart from individuals, do corporations pay LTCG & STCG?

What class of companies are taxed LTCG & STCG?

Txs.

Replies (5)
Yes. Corporations too pay LTCG and STCG. It is the nature of income which decided LTCG AND STCG, not the class of company.

e.g Profit/loss of sale of mutual fund , profit/loss on sale of investment property, profit/loss on sale of fixed assets ( provided there are no assets in the block)

These are examples of some incomes which could be LTCG /STCG assuming these are not the principal business activities of the corporation.

@ Raj C Doshi

Thank you. So if a business holds these instruments, they have to file for capital gain taxes then. 

Yes they will require to deposit tax on their Short/Long Term Capital Gains

@ Himanshi Garg

Thank you.

Yes. They will have to offer capital gain income on the same.


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