What are Corporate Tax & Capital Gain Tax?
Corporate Tax:
This tax is imposed on the profits of companies or organizations. It is also depend on the profits shared to the shareholders. Currently 33.9 % corporate tax is levied on the companies. But in Direct Tax Code, which is proposed to be implemented from 1 April 2012, it is proposed to be at 30%.
Capital Gain Tax
This tax is levied on the sale of capital assets/equities. The “Gain” here means the difference of price of asset/share when purchased and when sold. The tax is levied on that gain. For the Capital Assets the time limit is minimum three years but in the context of equities it is minimum one year.
For details: refer to This Post
Shashi dwivedi
September 7, 2010 at 12:14 pmDear sir
Direct tax code is implemented on 1 Apr 2011 or 2012
plz make it clear
usman
September 8, 2010 at 7:02 pmwhn thz DTC gng to implement
PLZ clear ………….
Anonymous
March 17, 2011 at 4:19 pmDirect tax code will be introduced from April 1, 2012.
UmaMaheswari
May 26, 2011 at 11:57 amCan v setoff the capital gain in corporate companies against Building construction.
Pls advice
Ami
August 15, 2011 at 4:34 pmNo Uma u cannot.And Direct tax code is proposed to be implimented from April 1, 2012.