tax on short term cap. gain if total income is less than 1.6
This query is : Resolved
11 November 2010
Dear All,
Please advise urgently whether a male has income from other sources Rs.40000/- and short term cap. gain on sale of shares is Rs. 105000/- (total income for the previous year is Rs. 145000/-) then he needs to pay tax on short term cap. gain?
Rgds,
Ramesh
Please advise urgently whether a male has income from other sources Rs.40000/- and short term cap. gain on sale of shares is Rs. 105000/- (total income for the previous year is Rs. 145000/-) then he needs to pay tax on short term cap. gain?
Rgds,
Ramesh
11 November 2010
NO NEED TO PAY ANY TAX.
CA Navin Jain
(Expert)
11 November 2010
I AGREE
11 November 2010
no tax upto basic exemption limit.
regards,
regards,
taxindiaconnect
(Expert)
11 November 2010
Agreed
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