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

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Comments

  • Shashi dwivedi
    Reply

    Dear sir
    Direct tax code is implemented on 1 Apr 2011 or 2012
    plz make it clear

  • usman
    Reply

    whn thz DTC gng to implement
    PLZ clear ………….

  • Anonymous
    Reply

    Direct tax code will be introduced from April 1, 2012.

  • UmaMaheswari
    Reply

    Can v setoff the capital gain in corporate companies against Building construction.

    Pls advice

  • Ami
    Reply

    No Uma u cannot.And Direct tax code is proposed to be implimented from April 1, 2012.