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LTCG UNDER 112 N STCG UNDER 111A

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(Querist)
17 July 2011 SIR PLEASE SOLUTIFY THE GIVEN PROBLRM :
Mr. A (resident) has the following incomes:
Under PGBP = 150000.00
STCG on equity shares (liable to STT) = 15000.00
LTCG = 25000.00
Total income = 150000+15000+25000 = 190000
BEL = 160000.00
Calculate the tax payable by him.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
17 July 2011 Total Income 150000+15000+25000=190000

Tax at Special rate on STCG 15000 @ 15% =2250
Tax on LTCG 15000 @ 20%=3000

As section 111A comes before Section 112
it has been given priority.
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