Author Topic: CGT -- Capital Gains Tax  (Read 226644 times)

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Offline aamir408

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Re: CGT -- Capital Gains Tax
« Reply #1079 on: October 12, 2017, 11:49:34 AM »
Just needed a clarification.
During this year it seems (if market behaviour remained same) that most of us may bear losses and so we have to collect CGT (on sale of securities).
But if we hv earned nothing during the year, what will we do with that recoverable amount on losses made on behalf of CGT.
e.g. Till now i have Net recoverable of Rs. 100,000/- & i don't trade after today till JUNE 30, 2018. What will i do with this recoverable of Rs. 100,000/-


bhai sirf sabar krna pary ga  huhu

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Re: CGT -- Capital Gains Tax
« Reply #1079 on: October 12, 2017, 11:49:34 AM »

Offline Retroactive

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Re: CGT -- Capital Gains Tax
« Reply #1080 on: October 12, 2017, 12:16:59 PM »
I have just received the NCCPL Annual CGT Certficate for 2016-17. I only had four share disposal transactions during the year on which CGT was deducted during the year as per my broker acct. statement. The CG and applicable CGT are identifiable for each transaction is identifiable in accordance with relevant tax slab. I had some mutual fund (MF) transactions during the year as well (Net Capital Loss in these transactions). I got a CGT tax credit in Jul'17 for the month of Jun'17 as per my broker acct. stat. but since that was recd. in Jul'17, should I ignore the same because my books for tax purpose should show the position as on June 30, 2017 for tax purpose right? I can't seem to reconcile the Capital Gain and CGT deducted thereon between the broker acct. stat. and the NCCPL certificate. Even if I take into account the CGT credit for Jun'17, the numbers don't add up. Also if I just take the Net Capital Gain and CGT deducted numbers as per NCCPL certificate for my income tax return, my effective tax rate (Tax on Net Capital Gain (Shares+MF)/ NCG (Shares+MF)  ) as per the NCCPL certificate doesn't fall in any of the tax slabs (0%,7.5%,12.5% & 15%) contained in the return form. Not sure what to do in my tax return.
« Last Edit: October 12, 2017, 12:24:52 PM by Retroactive »

Offline DEVDAS

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Re: CGT -- Capital Gains Tax
« Reply #1081 on: October 12, 2017, 02:33:14 PM »
So only possible remedy is to hold & don’t sell  :$:
Analyst is an expert who will know tomorrow why what he predicted yesterday didn't happen today!

Offline SBM

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Re: CGT -- Capital Gains Tax
« Reply #1082 on: October 16, 2017, 11:33:33 AM »
Just needed a clarification.
During this year it seems (if market behaviour remained same) that most of us may bear losses and so we have to collect CGT (on sale of securities).
But if we hv earned nothing during the year, what will we do with that recoverable amount on losses made on behalf of CGT.
e.g. Till now i have Net recoverable of Rs. 100,000/- & i don't trade after today till JUNE 30, 2018. What will i do with this recoverable of Rs. 100,000/-
As my  understanding , this will be adjusted with CGT payable only. If not then you cannot receive it

yes, thats how it works apparently
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Offline gagal

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Re: CGT -- Capital Gains Tax
« Reply #1083 on: October 21, 2017, 05:47:17 PM »
Salam every one. I have a question if you guys could reply plz..

Let's say a script was (4000 shares) 5-6 years ago at 50 and sold in Oct. 2017 at 30 making loss of 20 per share.

Am I going to get CGT credit against this loss.

JazakALLAH...


Offline Alpha

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Re: CGT -- Capital Gains Tax
« Reply #1084 on: October 21, 2017, 07:01:07 PM »
Salam every one. I have a question if you guys could reply plz..

Let's say a script was (4000 shares) 5-6 years ago at 50 and sold in Oct. 2017 at 30 making loss of 20 per share.

Am I going to get CGT credit against this loss.

JazakALLAH...

If you are holding a stock since jul'13 then there will be no gain tax as well as reversal of tax

Offline Retroactive

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Re: CGT -- Capital Gains Tax
« Reply #1085 on: October 29, 2017, 01:19:58 PM »
Salam every one. I have a question if you guys could reply plz..

Let's say a script was (4000 shares) 5-6 years ago at 50 and sold in Oct. 2017 at 30 making loss of 20 per share.

Am I going to get CGT credit against this loss.

JazakALLAH...

W/salaam. If you dispose off a scrip that you have been holding for 5-6 years in Oct'17, the CG on such transaction is exempt. However, due to this exemption, as per my understanding, any capital loss on disposal of such scrips is not available for adjustment against any capital gains earned.

Offline Kashif.toufiq

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Re: CGT -- Capital Gains Tax
« Reply #1086 on: October 29, 2017, 01:22:45 PM »
Salam every one. I have a question if you guys could reply plz..

Let's say a script was (4000 shares) 5-6 years ago at 50 and sold in Oct. 2017 at 30 making loss of 20 per share.

Am I going to get CGT credit against this loss.

JazakALLAH...

No adjustment

Offline Kashif.toufiq

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Re: CGT -- Capital Gains Tax
« Reply #1087 on: October 29, 2017, 01:25:35 PM »
Just needed a clarification.
During this year it seems (if market behaviour remained same) that most of us may bear losses and so we have to collect CGT (on sale of securities).
But if we hv earned nothing during the year, what will we do with that recoverable amount on losses made on behalf of CGT.
e.g. Till now i have Net recoverable of Rs. 100,000/- & i don't trade after today till JUNE 30, 2018. What will i do with this recoverable of Rs. 100,000/-

you can adjust these losses with other than psx gains like pmex , fund redemption or any other capital gain in your annual return

Offline Kashif.toufiq

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Re: CGT -- Capital Gains Tax
« Reply #1088 on: October 29, 2017, 01:28:13 PM »
Just needed a clarification.
During this year it seems (if market behaviour remained same) that most of us may bear losses and so we have to collect CGT (on sale of securities).
But if we hv earned nothing during the year, what will we do with that recoverable amount on losses made on behalf of CGT.
e.g. Till now i have Net recoverable of Rs. 100,000/- & i don't trade after today till JUNE 30, 2018. What will i do with this recoverable of Rs. 100,000/-

you can adjust these losses with other than psx gains like pmex , fund redemption or any other capital gain in your annual return

NCCPL now also adjusting capital gain and losses of pmex and open end units , so if u have gains in any of these market than u should book to those gains to absorb available losses

Offline kpall99

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Re: CGT -- Capital Gains Tax
« Reply #1089 on: October 29, 2017, 02:47:46 PM »
How about adjusting CGT on Dividend and bonus against losses in psx?
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Offline Kashif.toufiq

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Re: CGT -- Capital Gains Tax
« Reply #1090 on: October 29, 2017, 04:34:02 PM »
How about adjusting CGT on Dividend and bonus against losses in psx?

Tax on dividend and bonus falls in final taxation and cannot be adjustable

Offline Koolfire

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Re: CGT -- Capital Gains Tax
« Reply #1091 on: December 06, 2017, 03:44:49 PM »
I have share in my cdc investor account and are currently are below my purchased price, now i want to book the capital loss against them.


can i buy same share from the market and just do buy sell transaction  or need to transfer share from my investor account and do the transaction.

and if buy and sell transaction can be done on the same day or on different days.


 
Failure Is Only a Temporary Change in Direction To Set You Straight For Your Next Success...Only Those Who Dare To Fail Greatly Can Ever Achieve Greatly...

Offline Alpha

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Re: CGT -- Capital Gains Tax
« Reply #1092 on: December 06, 2017, 07:13:42 PM »
I have share in my cdc investor account and are currently are below my purchased price, now i want to book the capital loss against them.


can i buy same share from the market and just do buy sell transaction  or need to transfer share from my investor account and do the transaction.

and if buy and sell transaction can be done on the same day or on different days.

Yes you need to transfer them to ur broker and then sell it(cdc also giving the facility to buy/sell but its expensive

In your case you need to sell it one day and buy on the next as same day buy/sell doesn't affect your holdings

Offline Koolfire

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Re: CGT -- Capital Gains Tax
« Reply #1093 on: December 07, 2017, 03:35:25 AM »
I have share in my cdc investor account and are currently are below my purchased price, now i want to book the capital loss against them.


can i buy same share from the market and just do buy sell transaction  or need to transfer share from my investor account and do the transaction.

and if buy and sell transaction can be done on the same day or on different days.

Yes you need to transfer them to ur broker and then sell it(cdc also giving the facility to buy/sell but its expensive

In your case you need to sell it one day and buy on the next as same day buy/sell doesn't affect your holdings
thanx
Failure Is Only a Temporary Change in Direction To Set You Straight For Your Next Success...Only Those Who Dare To Fail Greatly Can Ever Achieve Greatly...

Offline A2Z

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Re: CGT -- Capital Gains Tax
« Reply #1094 on: May 02, 2018, 10:08:45 AM »
Kindly let me know I booked loss of 25000 Rs  on April 2018 in one stock which I bought on feb 2017. Now If in the month of June 2018 I will sell one of my security which is in profit of 35000Rs so the CGT will be deducted on 10000 Rs ??
Kindly reply

Offline ejeeee6

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Re: CGT -- Capital Gains Tax
« Reply #1095 on: May 02, 2018, 10:22:23 AM »
Kindly let me know I booked loss of 25000 Rs  on April 2018 in one stock which I bought on feb 2017. Now If in the month of June 2018 I will sell one of my security which is in profit of 35000Rs so the CGT will be deducted on 10000 Rs ??
Kindly reply
Righto bro

Offline A2Z

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Re: CGT -- Capital Gains Tax
« Reply #1096 on: May 02, 2018, 10:36:24 AM »
THx ejee

Offline gagal

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Re: CGT -- Capital Gains Tax
« Reply #1097 on: August 09, 2018, 03:54:54 PM »
Salam brothers,

day trade me agar 1000 ka net profit hoa to uspe CGT kitna kate ga month end pe?

ready aur future dono ka bataye ga plz..

JazakALLAH...

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Re: CGT -- Capital Gains Tax
« Reply #1098 on: September 03, 2018, 10:36:25 PM »
Khan sahab ke govt Mai CGT maaf hai??
For month of July 2018 ke CGT ka hisaab kitaab abhi takk KSE website par abhi takk nahin publish hua.. why??