Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 June 2014
whether the income from shrot term gains/long term gains have to clubbed in the statement of income and then assess the gains seperately. pl. clarify
Nikhil Kaushik
(Expert)
07 June 2014
to arrive at total income, all the incomes earned including capital gains are to be clubbed/added together.
Thereafter, for computing tax liability, you need to consider the items with different tax rates separately and also provide for exemption, if any, claimed.
Thereafter, for computing tax liability, you need to consider the items with different tax rates separately and also provide for exemption, if any, claimed.
Rupesh Jain
(Expert)
07 June 2014
you can club the income of capital gain but when you calculate tax on income then you have to consider separately.
Deepika Anand
(Expert)
07 June 2014
Yes,first of all you have to calculate your GTI by adding income under the five heads.After that calculate your TI by providing for deductions under Ch VI A.You will arrive at your total income.
Out of this TI deduct your STCG and tax them accordingly and the remaining income at the prevailing rates.
Out of this TI deduct your STCG and tax them accordingly and the remaining income at the prevailing rates.
Nikhil Kaushik
(Expert)
07 June 2014
Dear Deepika,
not only STCG, but LTCG also needs to separated.
not only STCG, but LTCG also needs to separated.
Deepika Anand
(Expert)
07 June 2014
Dear Nikhil
Agreed with your point.It was unintentionally omiited.:)
Agreed with your point.It was unintentionally omiited.:)
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Unable to File TDS Q2 Return – New TRACES Portal Error
- EPF ECR NEW RULES Sep 17th 2026
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Accounting treatment of AMC alongwith the purchase of Laptop
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- 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
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
CAclubindia
