80c deduction
This query is : Resolved
25 December 2013
Friends..i need a clarification. ..
my IFHP is Rs.250000 long term capital gain is Rs.100000..and 80c ded is Rs.100000..I want to know hw much tax i has to pay for this F.Y
25 December 2013
Deduction u/s 80C will be allowed from Income from House Property.
So income taxable at normal rates is Rs. 1,50,000
You have unutilized exemption limit of Rs. 50,000/- which will be reduced from LTCG.
So taxable LTCG is Rs. 50,000
Tax on LTCG will be 20% = 10,000 as increased by cess of 3%.
So income taxable at normal rates is Rs. 1,50,000
You have unutilized exemption limit of Rs. 50,000/- which will be reduced from LTCG.
So taxable LTCG is Rs. 50,000
Tax on LTCG will be 20% = 10,000 as increased by cess of 3%.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Tds on commission charges
- Applicability of GST on Salary Reimbursement Component
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Need Professional Opinion AY 2012-13 Old Demand
- Withdrawal in cash from partners capital account by partner
- TDS on TRUST
- Regarding Applicability of Tax Audit u/s 44AB
- New GST registration for new place of business.
- Renovation exp. in flat by family member
- Salary from Qatar in Dollars in India
- CHECK RELATED
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
01 September 2026
Articles
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
View Details
ARTICLESHIP
15 September 2026
Freelance Taxation Content Writer Intern
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
Featured
11 September 2026
Audit Executive
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
ARTICLESHIP
04 September 2026
Accounts Executive
Hema Yashwanth & Associates
Chennai
B.Com
View Details
CCI
Pro
CAclubindia
