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Department of Inland Revenue has published a gazette on capital gain tax and summary of the same as below;
Where the gain made by a resident individual from the realization of investment asset exceeds Rs. 50,000 capital gain tax return should be filed with the Commissioner General of Inland Revenue not later than one month after the date of realization of an investment asset.
Where the gain made by a resident individual from such realization of investment asset does not exceed Rs. 50,000 and where the total gain made by a resident individual exceeds Rs. 600,000 during the year of assessment capital gain tax return should be filed with the Commissioner General of Inland Revenue not later than one month after the date of realization of nearest investment asset which causes to exceed total gain Rs. 600,000.”
Gazette on Capital Gain Tax Return and Schedules- No. 2064/59
