Capital gains

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Praveenveldhi (Querist)
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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)
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06 May 2014 in this case there wont be any tax liability.

Praveenveldhi

Praveenveldhi (Querist)
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06 May 2014 means income of capital gains included in overall slab

Nikhil Kaushik

Nikhil Kaushik (Expert)
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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%.

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Praveenveldhi

Praveenveldhi (Querist)
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06 May 2014 Thank you sir for knowledge sharing...

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