Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 December 2011
if income of individual is below 160000 or 190000 than income arise from STCG i.e. included in (160000 or 190000)
is it taxable separately???
is it taxable separately???
24 December 2011
Let us take an example.
Income other than STCG Rs. 1,00,000/-
Income from STCG u/s 111A Rs. 50,000/-
Exemption limit Rs. 1,60,000/-
Remaining exemption limit Rs. 60,000/-
STCG Rs. 50,000/- will be reduced from this income. Accordingly, no tax liability arises.
Let us suppose income from STCG u/s 111A is Rs. 90,000/-
Remaining exemption limit is Rs. 60,000/-
STCG after adjusting exemption limit is Rs. 30,000/-
On this Rs. 30,000/- tax @ 15% will be payable.
Income other than STCG Rs. 1,00,000/-
Income from STCG u/s 111A Rs. 50,000/-
Exemption limit Rs. 1,60,000/-
Remaining exemption limit Rs. 60,000/-
STCG Rs. 50,000/- will be reduced from this income. Accordingly, no tax liability arises.
Let us suppose income from STCG u/s 111A is Rs. 90,000/-
Remaining exemption limit is Rs. 60,000/-
STCG after adjusting exemption limit is Rs. 30,000/-
On this Rs. 30,000/- tax @ 15% will be payable.
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 December 2011
thank you very much siddhartha
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