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IT Liability

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(Querist)
14 March 2011 MR. X IS HAVING SALARY INCOME95000 AND LTCG75000. WHAT IS THE TAX LIABILITY? (FOR A.Y 11-12)
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
14 March 2011 For AY 2011-12 Tax Liability NIL
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Devendra

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Devendra (Querist)
14 March 2011 Will the LTCG be taxed at special rate? OR
Don't we have to take the total of the incomes of the 2 sources ie. Rs. 170000 and tax is charged on the remaining Rs.10000?
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
15 March 2011 Tax liability 2000 + EC + SHEC
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CA KRISHNA KUMAR DARUKA

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CA KRISHNA KUMAR DARUKA (Expert)
15 March 2011 According to proviso to section 112(1)(a)long term capital gains will be charged only on10000 @20% + EC.
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