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TDS on capital Gain


Ashish Saini (Self Employed at Ashish Saini & Associates)     25 June 2011

Ashish Saini
Self Employed at Ashish Saini & Associates 
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If we get  amount of Capital Gain after deducting TDS on it ,in what section we should claim it.Actually before now i had never listen about it ...so whether TDS should be Deducted on it , if yes, what is the limit, on which TDS is applicable on Capital Gain.

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SANJAY (CHARTERED ACCOUNTANTS)     25 June 2011

SANJAY
CHARTERED ACCOUNTANTS 
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There is no such section in Income tax Act for deduction of TDS on Capital gains....

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Sunshine (Helping All)     25 June 2011

Sunshine
Helping All 
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No way u can deduct TDS on capital gain....never

sharad ( )     25 June 2011

sharad
 
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THERE IS NO SUCH SECTION AS SUCH IT ACT

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Ashish Saini (Self Employed at Ashish Saini & Associates)     25 June 2011

Ashish Saini
Self Employed at Ashish Saini & Associates 
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Thanks for replying...but if ...we get such amount after deducting TDS .....then there is one Section 195(Others) ,....whether it will be right to fill  ITR mentioning deduction of TDS under that section...?

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CA ADITYA SHARMA (CA IN PRACTICE )     25 June 2011

CA ADITYA SHARMA
CA IN PRACTICE  
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THERE IS NO SECTION FOR DEDUCTING TDS ON THE CAPITAL GAINS.

BUT IF YOUR TDS HAVE BEEN DEDUCTED THAN IT IS YOUR RIGHT TO GET REFUND OF THAT TDS BY FILING RETURN.

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Aparna Raja K.C (Student)     25 June 2011

Aparna Raja K.C
Student 
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TDS might have been deducted uder the provision of Sec 196 B :)

Section 196B -

Where any income is payable in respect of long term capital gain arising  from transfer to off shore fund, the person responsible for making the payment shall at the time of credit of such income, should deduct tax at the rate of 10% :)

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nikhil ((CA Final) Article)     25 June 2011

nikhil
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I agree with aparna

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@*CS Siddharth Bumb. * (B.Com, CA Final, CS )     26 June 2011

@*CS Siddharth Bumb. *
B.Com CA Final CS  
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there is no provision regarding your case.. and agree with Aparna

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.g.k. (employed)     26 June 2011

.g.k.
employed 
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Dear friends,

 

TDS may also be deducted on compensation paid for compulsory acquisition

U/S 194LA

 

Regards


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