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Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 March 2012 DEAR SIR PLEASE ANSWER.
INCOME FROM CAPITAL GAIN Rs 425650/-
INCOME FROM OTHER SOURCES Rs 50500/-
DEDUCTION U/S 80-C Rs 100000/-

what is the tax laibity
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CA Vijay Kumar Walande

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CA Vijay Kumar Walande (Expert)
21 March 2012 Dear Friend,
In the absence of complete info. I assume the Income from Capital Gain as Long Term and therefore the taxable income will be 425650 and tax is to be calculated on this directly by applying 20%.

(Income from other sources gets set off with the deduction available under sec 80C )
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