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Tax on income u/s 111A

This query is : Resolved 

15 February 2020 Hi

For Resident Individual below 60years of Age , if Income for FY 2019-20 is below Rs 5 Lakhs but above Rs 2.5 Lakhs ( Including Short Term Capital Gains from Sale of Equity Shares & Mutual Funds u/s 111A )

Will there still be any Tax Liablity as income u/s 111A is taxed at special rates.

15 February 2020 Tax liability will be NIL since section 87A relief will be available for total income including STCG.



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