Short term capital gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 July 2013
can anyone explain me if basic exemption limit is adjustable in short term capital gain if there is no other income.
CA PARAS BAFNA
(Expert)
02 July 2013
Ordinary short term capital gains attracts normal tax rate and as such slab rates are applicable to it like other income.
REPLY :BASIC EXEMPTION LIMIT AVAILABLE
.
STCG on shares U/s 111A can also be adjusted
in the exemption limit. Suppose 150000 is normal income and 75000 is STCG U/s 111A, then 50000/- can be adjusted to make complete the exemption limit of Rs 200000.
REPLY : SINCE THERE IS NO OTHER INCOME BASIC EXEMPTION LIMIT IS AVAILABLE
.
REPLY :BASIC EXEMPTION LIMIT AVAILABLE
.
STCG on shares U/s 111A can also be adjusted
in the exemption limit. Suppose 150000 is normal income and 75000 is STCG U/s 111A, then 50000/- can be adjusted to make complete the exemption limit of Rs 200000.
REPLY : SINCE THERE IS NO OTHER INCOME BASIC EXEMPTION LIMIT IS AVAILABLE
.
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