Tax liabilities

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 September 2015 If a Individual TOTAL iNCOME below of Rs. 250000, Inclueding Short Term Capital gain from share trading of Rs. 75000, then any tax liabilities areise it or not...?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

22 September 2015 No tax liability will arise.

Querist : Anonymous

Querist : Anonymous (Querist)

22 September 2015 But Sir, When I am file ITR IT WILL CALCULATE THE TAX ON SHORT TERM CAPITAL GAIN

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

22 September 2015 which ITR you are filing?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

22 September 2015 If your total income including capital gain is less than basic exemption limit no tax payable.

Querist : Anonymous

Querist : Anonymous (Querist)

22 September 2015 ITR 2 FOR INDIVIDUAL

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

22 September 2015 There is no ITR form like 2S.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

23 September 2015 In ITR 2 : Show the Short term capital gain at item A5 and not item A2

Make the corresponding entry in F3 on the same sheet named CG

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now