Coverage under tax exemption limits
This query is : Resolved
Quick Summary
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).
08 July 2024
1. Yes.
2. No tax liability in this case.
2. No tax liability in this case.
08 July 2024
Is this also true where the assessee is a NRI ?
08 July 2024
Yes, there is no difference in the adjustment.
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