Long term capital gain - tax slab

Chirag (General Manager) (44 Points)

10 June 2015  

Hello,

Mrs. X (Aged 64) has income as follows...

Interest Income - 352342/-

Long Term Capital Gain - 4,47,989/- (From sale of inherited residentail house property )

Investment in 80C - Rs. 1,50,000/-

as per my LTCG Tax payable is subject to basic exemption limit.

up to 5 lk income would be taxed @ 10%.

Incremental income of Rs. 150,331 will be taxed @ 20%

so total tax = 20,000 + 30,066 = 50,066 + Cess @ 3% (Rs. 1501)

Total Tax. = 51567/-

please advise if the understanding is correct.