04 June 2015
LTCG is taxable at a special rate and hence exemption limit benefit is normally not available. However, for resident individuals who are citizens of India and H.U.F. exemption limit benefit is available for LTCG only if it cannot be fully utilized against income taxable as per slabs. In other words, the income which is taxable as per slabs is to be first adjusted against the exemption limit and if such income is below the exemption limit then the remaining exemption limit can be adjusted against the LTCG by the persons stated above.
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