STCG U\S 111A
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 June 2011
sir ,
whether tax on short term capital gain under 111A is payable if his total income does not exceed maximum amount not chargable to tax say; basic exemption limit 160,000
Profit of 111A 200000
lic primium 15000
how much tax i have to pay?
whether tax on short term capital gain under 111A is payable if his total income does not exceed maximum amount not chargable to tax say; basic exemption limit 160,000
Profit of 111A 200000
lic primium 15000
how much tax i have to pay?
CA MANOJ GUPTA
(Expert)
28 June 2011
in this case u will have to pay tax on 40000 at 15 per cent
no deduction will be allowed under S. 80C in respect of LIC premium
I have assumed u r a resident individual
CA MANOJ GUPTA'
JODHPUR
09828510543
gm2104@gmail.com
no deduction will be allowed under S. 80C in respect of LIC premium
I have assumed u r a resident individual
CA MANOJ GUPTA'
JODHPUR
09828510543
gm2104@gmail.com
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