capital gain tax

POSTED BY KULDIP SINGH ON November 4, 2012 11:04 am COMMENTS (3)

I have sold some shares by holding them for more then one year and paid STT and other
charges of the Exchange.What will be my long term capital gain tax free amount for the current finicial year:
By selling booked profit Rs 90000. By selling got loss Rs 43000.

3 replies on this article “capital gain tax”

  1. Ashal Jauhari says:
    February 18, 2013 at 6:06 am

    Dear Kuldeep, if al the shares were hold for more than 1Y, there is no tax liability on you for LTCGs & no carry over of LTCLs as after payment of STT, LTCLs are to be ignored as LTCGs are tax free.

    thanks

    Ashal

    Reply
  2. TheZionView says:
    November 6, 2012 at 1:01 am

    For shares on which you have paid STT there is no tax for Long term Gain(1 year+)

    If its a short term gain/loss then you can offset only the short term gain/loss and carry it forward for 8 years

    Reply
  3. Biswa Singh says:
    November 4, 2012 at 10:23 pm

    ur question is not clear but i am trying to answer which may help. If the loss that you are having is because of sort term capital loss then you can offset that loss amount from any long term capital gain and whatever is the difference amount will be taxable. In ur case 90000 – 43000 = 47000 will be taxable.

    Reply

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