capital gains tax
This query is : Resolved
rajesh b shah
(Querist)
14 August 2009
For AY 2009-10 I have long term capital gains from sale of land and building of Rs.3.45 lakhs and other income of Rs..4 lakhs making a total of 3.85 lakhs.I have invested Rs.1.00 lakh in ELSS.Kindly advise on the tax computation and tax payable.
Ashish Shah
(Expert)
14 August 2009
You would be exempt from tax to the extent of Rs. 1 lacs and other things i.e. Rs. 2.85 would be taxable @ 20% after your minimum exemption limit
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