Tax on Stcg
This query is : Resolved
10 July 2008
I want to know about tax on short term capital gain when excluding the short term capital gain from the net taxable income is below the exemption limit.
For example: income from other sources is Rs.50500 & STCG is Rs. 140000/-.
and the assesse is individual
plz calculate the tax from this example
For example: income from other sources is Rs.50500 & STCG is Rs. 140000/-.
and the assesse is individual
plz calculate the tax from this example
CA Anand Sarda
(Expert)
11 July 2008
Which Short term capital gain is this?
Is it 10% STCG?
If it is 10%STCG then, first normal is allowed for Basic Exemption Limit then,
STCG
SO In ur case,
the tax liability is
A.Y 2008-09
10% of(190500-110000)
=8050
Is it 10% STCG?
If it is 10%STCG then, first normal is allowed for Basic Exemption Limit then,
STCG
SO In ur case,
the tax liability is
A.Y 2008-09
10% of(190500-110000)
=8050
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