80C & 80D

This query is : Resolved

Chintan (Querist)
Follow

24 January 2011 I do not have any income other than interest income & capital gain. My interest income is also less than 1,60,000.This year I have got a huge capital gain. My question is, Can I avail the benefit of section 80C & 80D by investing some amount of my capital gain( 1 lac in 80C & 15000 in 80D) & evade 20.6% capital gain tax on that amount?

Ratan Sharma

Ratan Sharma (Expert)
Follow

24 January 2011 Deduction u/s. 80C not allowable from LTCG income however you can claim the same from regular income. By investing in 80C your regular income will be Nil and you can get the benefit of basic exemption limit from the LTCG. You can get the deduction of 80D from LTCG income.

Guest

Guest (Expert)

24 January 2011 No deduction under chapter VIA will be allowed out of LTCG

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

bhavesh

Srikanthan S

rana andcompany

Pranab Banerjee

Gurunathan kannan

Subscribe Now

80C & 80D

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Accountant

GST CONSULTANT

GST CONSULTANCY

Manager- Finance and Compliance

Senior Executive