exmtion limit
This query is : Resolved
Kumar Babu.G
(Querist)
04 July 2008
sir,
Income of an individual is Rs.200000,including rs.80000 from other sources,rs.75000 from LTCG, rs.45000 from stcg how can we claim exemption limit i.e., which one we have to adjust first stcg or ltcg
Income of an individual is Rs.200000,including rs.80000 from other sources,rs.75000 from LTCG, rs.45000 from stcg how can we claim exemption limit i.e., which one we have to adjust first stcg or ltcg
SHIVAM GROVER
(Expert)
04 July 2008
compute tax seprately tax on ltcg and remaining acc to i.t. slab
S.Srinivasaraghavan
(Expert)
04 July 2008
Netincome (excluding LTCG)=1,25000
Exemption =1,10000
Taxable = 15000
LTCG taxable = 75000
Exemption =1,10000
Taxable = 15000
LTCG taxable = 75000
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