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Coverage under tax exemption limits

This query is : Resolved 
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(Querist)
08 July 2024 Does the basic tax exemption limits (slabs) cover taxes under special rate ? Do you have to pay tax if your basic income is 50000 and LTCG income is 120000 , wherein the LTCG taxable is Rs 20000/- @ 10% (Rs 2000 tax).
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
08 July 2024 1. Yes.
2. No tax liability in this case.
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Proloy Samaradivakera

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Proloy Samaradivakera (Querist)
08 July 2024 Is this also true where the assessee is a NRI ?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
08 July 2024 Yes, there is no difference in the adjustment.
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