Capital gains

This query is : Resolved

Praveenveldhi (Querist)
Follow

06 May 2014
Dear Sir/Madam

whether the tax rate of long term/short term will included in overall income slab of a individual or will it taxed seperately.

For instance if a person having income of 1,00,000/- for AY : 2014-15 and he has long term capital gains of 50,000/- now the overall income is 1,50,000/-...

Whether his income taxable irrespective of slab system..

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

06 May 2014 in this case there wont be any tax liability.

Praveenveldhi

Praveenveldhi (Querist)
Follow

06 May 2014 means income of capital gains included in overall slab

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

06 May 2014 not in all cases. With regards to short term capital gains, it is always included in the total income and taxed at short term gains except for section 111A.

with regards to long term capital gains as long as total income is less than exempted limit, no tax is applicable, once the income exceeds exempted limit, long term capital gains are taxed at 20%.

Message likes : 1 times

Praveenveldhi

Praveenveldhi (Querist)
Follow

06 May 2014 Thank you sir for knowledge sharing...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Naresh Dhawan

R Prabhudoss

Chnmaya parhi

RAGHUNATH KASIBHOTLA

jayaraman

Subscribe Now

Capital gains

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA