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Stcg

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 August 2011 For A.Y 2011-12
Income From Salary-- 120000
Profit on sale of house property(Land)-- 70000 (STCG)
Premium Paid for lic Policy-- 5000

Compute income tax.
What is treatment of STCG.
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
04 August 2011 Income from salry including
profit on sale of land 190000
Less Deduction u/s 80C 5000
Total Income 185000
Basic exemption 160000
balance income 25000
Tax rate 10% & tax liability Rs.2500/-
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