It liability on capital gain if below basic exemption
This query is : Resolved
04 January 2013
Hi Experts,
My friend have an annual income statement is given below,his income below Rs 200000.But he have short term capital gain from share trading.In such a case is he liable to pay tax.
Salary 120000
Capital gain(Short term) 30000
Regards
Rajesh
My friend have an annual income statement is given below,his income below Rs 200000.But he have short term capital gain from share trading.In such a case is he liable to pay tax.
Salary 120000
Capital gain(Short term) 30000
Regards
Rajesh
Guest
Guest
(Expert)
04 January 2013
No need to pay tax. The STCG will be adjusted against the balance basic exemption limit available.
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