benefit of basic exemption against ltcg stcg 111a
This query is : Resolved
12 October 2017
if other than ltcg and stcg 111a is less than basic exemption then unutilised basic exemption can be used against ltcg stcg 111a
12 October 2017
Utilised balance of basic exemption limit can be used for LTCG/STCG. But when the income exceeds the basic exemption limit than you have to pay the tax @ 15%/20% and not at 10%.
For Eg.
Basic Exemption Limit is 250000
Other Income 200000
STCG 150000
Than you have to pay the tax on 100000 (STCG - (Basic Exemption Limit-Other Income) @ 15% and not @ 10%
Therefore you tax liability will be 15000+EC&SHEC
For Eg.
Basic Exemption Limit is 250000
Other Income 200000
STCG 150000
Than you have to pay the tax on 100000 (STCG - (Basic Exemption Limit-Other Income) @ 15% and not @ 10%
Therefore you tax liability will be 15000+EC&SHEC
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
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Form 121 & TDS deduction
- LC charges in relation to Asset purchased should be Capitalised ?
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Regarding appeal to GSTAT
- Invoice V/S Goods receipt Note Date
- Transporter Declaration form
- Multiple trade mark
- E-Invoice applicability for new Startup
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
