About tax

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
29 January 2016 Dear Sir…Suppose!! I have a Business Income of 222500 /- and I have a Long Term Gain On Sale of Shares of 1385800 /-….after deduction of all expense I got Net Profit 1508900 /-….
How much The Amount of Income Tax..?? Is I have to pay tax on total 1508900 /- ??

29 January 2016 Longterm gain on sale of shares is exempt from incometax if STT suffered on sale of shares(sale of shares through stock exchange)
business income not exceeded basic exempt limit

Hence there is no taxliability on you

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
29 January 2016 Thankyu very Much Sir.. :)


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


CCI Pro



Unanswered Queries



CCI Pro
Meet our CAclubindia PRO Members

Follow us
add to google news


Answer Query



Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details