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long term capital gains and chapter vi a deductions

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17 June 2011 my innterest income is 130000 and long term capital gains is 230000 and lic etc. u/s.80-c 70000 what is tax on the above income is it not to claim u/s.80-c under the above circumentance
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Kumar Babu.G

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Kumar Babu.G (Expert)
17 June 2011 On Long Term Capital Gains tax also we can claim 80C deduction.
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CA Ankit Gulgulia (Jain)

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CA Ankit Gulgulia (Jain) (Expert)
17 June 2011 With Due Respect to Experts ,

deduction u/s 80c is not allowed against LTCG u/s112, STCG u/s 111A .

Regards
Ankit Gulgulia
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