Tax liabilities

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Querist : Anonymous

Querist : Anonymous (Querist)

22 September 2015 If a Individual TOTAL iNCOME below of Rs. 250000, Inclueding Short Term Capital gain from share trading of Rs. 75000, then any tax liabilities areise it or not...?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 September 2015 No tax liability will arise.

Querist : Anonymous

Querist : Anonymous (Querist)

22 September 2015 But Sir, When I am file ITR IT WILL CALCULATE THE TAX ON SHORT TERM CAPITAL GAIN

Amol S Joglekar

Amol S Joglekar (Expert)
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22 September 2015 which ITR you are filing?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 September 2015 If your total income including capital gain is less than basic exemption limit no tax payable.

Querist : Anonymous

Querist : Anonymous (Querist)

22 September 2015 ITR 2 FOR INDIVIDUAL

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 September 2015 There is no ITR form like 2S.

Amol S Joglekar

Amol S Joglekar (Expert)
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23 September 2015 In ITR 2 : Show the Short term capital gain at item A5 and not item A2

Make the corresponding entry in F3 on the same sheet named CG