Tax liability
This query is : Resolved
19 August 2014
Sir , i am a Resident assessee . my age is around 82 years of old . my gross total income is Rs.356500 including long term capital gain of Rs. 145000 on sale of a portion of my house property. My queries are:-
1. shall i get the slab benefit ? if yes,then my tax liability would be nil ?
2. shall i be required to file my i.t.r ?
1. shall i get the slab benefit ? if yes,then my tax liability would be nil ?
2. shall i be required to file my i.t.r ?
21 August 2014
You are not liable to pay income tax nor liable to file income tax return, because LTCG and other incomes total value is less than I.T. Exemption limit, u need not to pay tax on that. And in your case, u will enjoy I.T. Exemption limit of Rs.5 lacs [claiming Super Senior Citizen status]
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
