Ltcg and stcg u/s 112 and 111a
This query is : Resolved
03 April 2015
Hi Sir,
Mr. A have have Short Term Capital Gain on Equity Mutual Funds (liable to STT) Rs. 30000 and
Long Term Capital Gain on Equity Mutual Funds (liable to STT) Rs. 20000
Rental Income Rs. 90000
So Total Income 30000+20000+90000=Rs. 140000 this is below Exemption limit income
so Mr. A is liable to Pay any tax on STCG or LTCG income or not ?
Please provide valuable information to me?
Thanks for you all.
Mr. A have have Short Term Capital Gain on Equity Mutual Funds (liable to STT) Rs. 30000 and
Long Term Capital Gain on Equity Mutual Funds (liable to STT) Rs. 20000
Rental Income Rs. 90000
So Total Income 30000+20000+90000=Rs. 140000 this is below Exemption limit income
so Mr. A is liable to Pay any tax on STCG or LTCG income or not ?
Please provide valuable information to me?
Thanks for you all.
CA R SEETHARAMAN
(Expert)
04 April 2015
Mr. A is not liable to pay any tax as basic exemption limit is available for both STCG and LTCG.
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