Computation of tax

This query is : Resolved

Narendra (Querist)
Follow

21 August 2015 Sir,
my total Income after Chapter VI A Deductins is 462140 (Rs.111636 is from Short-term capital gains TAXABLE @ 15% & Rs.350504 from Salaries)

Now for Short-term capital gains what rate should i apply for computation of Tax (15% or 10%) 10% why because I m falling under 10% Slab rates up to 5Lakhs

Please suggest me in this regard

Please mail me at narendra456@yahoo.com

Taxguy

Taxguy (Expert)
Follow

22 August 2015 Capital gains are taxed at special rates and are not concerned with slab rates, so you may have to compute tax on Capital Gains at 15% and not 10%

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok