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Short Term Investment

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(Querist)
10 April 2008 Dear All Experts,

As per Budget 08-09. Suppose, My only income source is Short Term Investment (short term capital gains). In the whole year my income (short term capital gains) is within threshold limit or Rs.140000/-, then, will I liable to pay 15% tax on my gain or income?
Awaiting your valuable guidance.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
10 April 2008 No tax liability if aggregate of all income is within the non-taxable limit
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R.V.RAO

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R.V.RAO (Expert)
10 April 2008 NO TAX LIABILITY AS THE TOTAL INCOME FOR THE YEAR IS WITHIN EXEMPTION LIMIT WHICH IS RS. 150000/ FOR FIN. YEAR 2008-09.
R.V.RAO
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