Rebate for long term capital gain
This query is : Resolved
30 January 2014
what will be my tax liability if my taxable income is Rs.220000(long term capital gain)?
CMA Nishad Patkar
(Expert)
30 January 2014
Computation is as under:
LTCG-- Rs. 220000
Taxable IncoemRs. 220000
Less: Exempt U/S
Thresh Hold Limit 200000
Tax on (20000*20%) Rs. 4000
Less: Rebate U/s 87A Rs. 2000
Net Tax Rs. 2000
Ed. Cess (2000*3%) Rs. 60
Total Tax Rs. 2060
LTCG-- Rs. 220000
Taxable IncoemRs. 220000
Less: Exempt U/S
Thresh Hold Limit 200000
Tax on (20000*20%) Rs. 4000
Less: Rebate U/s 87A Rs. 2000
Net Tax Rs. 2000
Ed. Cess (2000*3%) Rs. 60
Total Tax Rs. 2060
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