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Capital gain doubt

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(Querist)
18 April 2012 can basic exemption limit be availed from any long term cap.gain, if the person has no other source of income???? my teacher told it cant be.....but d practice manual says it can...
plsssssssss help urgently!!!!!
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swasti

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swasti (Expert)
18 April 2012 In case of individual and HUF where the income is below the basic exempted limit the shortage in basic exemption limit is adjusted against the long term capital gains.
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CA Kishore Tallam

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CA Kishore Tallam (Expert)
18 April 2012 Agree with expert. Only in case of assessees where income is taxable on slab basis, this can be done.
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