Capital gain
This query is : Resolved
26 October 2015
If my total income before capital gain is rs. 210000. Long ree capital gain is rs. 15000 short term capital gain rs. 10000 stt paid On short term capital gain. please let me know my tax amount. Can I set off long term capital gain with normal slab also.....
CA. Sunil Gokhale
(Expert)
26 October 2015
Exemption limit is to be first applied to income taxable as per slabs. If the exemption limit is not exhausted against such income then it can be adjusted against capital gain, long & short term.
Therefore, you are not liable to tax.
Therefore, you are not liable to tax.
30 October 2015
Thanks....
should i adjust short term capital gain first or long term capital gain.....
should i adjust short term capital gain first or long term capital gain.....
CA. Sunil Gokhale
(Expert)
03 November 2015
You can adjust any of the two. Adjusting LTCG will be better as it is taxed at @ 20% compared to STCG with STT which is @ 15%. In your case you can adjust both as exemption limit is 2,50,000.
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