Balance loss, if any, could be carried forward for eight assessment years for claiming set-off against subsequent assessment years, xanax pharmacy short-term as well as longterm capital gains.
Long-term capital loss suffered during the year is allowed to be set-off against long-term capital gains. Balance loss, if any, could be carried forward for eight assessment years for claiming set- off against subsequent assessment years, long term capital gains. As per Section 14A, no deduction shall be allowed in respect of expenditure incurred by the assessee in relation to income which does not form part of the total income under this Income-Tax Act. Also, Section 94(7) of the Act provides that losses arising from the sale/ transfer of shares or units purchases within a period of three months prior to the record date and sold/ transferred within three months or nine months respectively after such date, will be ignored to the extent dividend income on such shares or units is claimed as tax exempt. Special Tax Benefits There are no special tax benefits available to the resident members of the Company (including domestic companies). (B) Tax benefits available to Non-Resident Indian Members/ Non Resident Shareholders (including foreign companies) [Other than FIIs and Foreign Venture Capital Investors] under the Act General tax benefits 1. As per section 10(34) of the Act, income earned by the shareholders by way of dividend referred to in section 115-O of the Act from a domestic company is exempt from tax. 2.As per section 10(38) of the Act, long term capital gains arising to the shareholder from the transfer of a long term capital asset being an equity share in a company or a unit of an equity oriented fund, where such transaction is chargeable to securities transaction tax, will be exempt in the hands of shareholders. However, the said exemption will not be available online ambien zolpidem to a member being a company while computing the book profit and the tax payable under section 115JB of the Act. 3.In accordance with, and subject to section 48 of the Income-Tax Act, capital gains arising on transfer of shares of the Company which are acquired in convertible foreign exchange and not covered under Paragraph 2 above shall be computed by converting the cost of acquisition, expenditure in connection with such transfer and full value of the consideration received or accruing as a result of the transfer into the same foreign currency as xanax pharmacy was initially utilised in the purchase of shares and the capital gains computed in such foreign currency shall be reconverted into Indian currency, such that the aforesaid manner of computation of capital gains shall be applicable in respect of capital gains accruing / arising from every reinvestment thereafter and sale of shares of the Company. The long-term capital gains accruing to the shareholders of the Company from the transfer of the shares of the Company otherwise than as mentioned in Paragraphs 2 and 3 above shall be chargeable to tax at the rate of 20% (plus applicable surcharge and education cess) of the capital gains computed after indexing the cost of acquisition or at the rate of 10% (plus applicable surcharge and education cess) of the capital gains computed before indexing the cost of drug hydrocodone pain acquisition, whichever is lower. As per section 111A of the Act, short xanax pharmacy term capital gains arising from the sale of equity shares or units of an equity oriented mutual fund, will be chargeable to tax at the rate of 15% (plus applicable surcharge and education cess), if securities transaction tax is chargeable on such transaction. As per section 54EC of the Act and subject to the conditions and to the extent specified therein, long-term capital gains (in cases not covered under section 10(38) of the Act) arising on the transfer of a long-term capital asset will be exempt from tax xanax pharmacy subject to the limit of ' 50 lakhs in a year if the capital gains are invested in a "long term specified asset" within a period of six months after the date of such transfer.
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