benefit of basic exemption against ltcg stcg 111a
This query is : Resolved
dharmik vadgama
(Querist)
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
Ashiwini Ballodia
(Expert)
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
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