Capital gain/ loss
This query is : Resolved
15 July 2012
If i sold mutual fund of UTI on 03.10.2011 for a sum of Rs.14726 purchased on 24.06.1999 for Rs.10000. Pls tell me how much LTCG will be required to be paid by me as per A.Y.-2012-13.
Is there is any exemption of Interest earned on SB A/c or the whole amt is subject to tax?
Is there is any exemption of Interest earned on SB A/c or the whole amt is subject to tax?
15 July 2012
The units of UTI are considered as Long Term Capital Asset. Long Term Capital Gains arising on such units is exempt U/s 10(38).
.
For Ay 2012-13, SB A/c Interest is taxable.
.
From AY 2013-14 SB A/c Interest is Deductible U/s 80TTA upto Rs. 10000/-
.
.
For Ay 2012-13, SB A/c Interest is taxable.
.
From AY 2013-14 SB A/c Interest is Deductible U/s 80TTA upto Rs. 10000/-
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- Putting a heading on received mail
- Gift Received from nonblood relative
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- Section 50-fixed asset-->building ceases to exist
- GST ITC REVERSE
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
