Capital gain for basic exemption

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 August 2014 my taxable income is less then 200000 but i have a short term capital gain on sale of share and long term capital gain on sale on gold. is gain is taxable or not

Rupesh Jain

Rupesh Jain (Expert)
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13 August 2014 IF YOUR OTHER INcome is below the exempt limit who not charge the tax then you can get deduction of diff from short term capital gain or LTCG form the listed shares/ security and security transaction tax also paid on sales.

then you take this benefit and on sale of gold you have to pay tax @20%.

Querist : Anonymous

Querist : Anonymous (Querist)

13 August 2014 mean i have to pay tax on sale of gold even though my income is below 200000

Rupesh Jain

Rupesh Jain (Expert)
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13 August 2014 yes it is not exempt in any section of act . you can get only indexation benefit if gold is old 3 years or more. or you can invest in property u/s 54F or in security u.s 54EC

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