Tax on STCG

This query is : Resolved 
Profile Image

Profile Image

(Querist)
12 July 2011 Suppose my Taxable income is Rs. 5,50,000/- including STCG is Rs. 1,00,000/-

So how i have to calculate the Tax

1. Tax on Rs. (4,50,000/- Less 1,60,000/-) at 10% Rs. 29,000/- and on Rs. 1,00,000/- at 15% Rs. 15,000/-, Total 44,000/-

Or

2. Tax on Rs. (5,00,000/- Less 1,60,000/-) at 10% Rs. 34,000/- and on Rs. 50,000/- at 15% Rs. 7,500/-, Total Rs. 41,500/-
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
12 July 2011 Mahendra Bhai ,

If you are not a senior citizen,
calculation given in Par 1. is correct.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member Sri HarshaSri HarshaPro Member RAVINDRA JOSHIRAVINDRA JOSHIPro Member Ishwarya Keerthi BIshwarya Keerthi BPro Member Mahasweta DebMahasweta DebPro Member Sunaram MarndiSunaram Marndi
Subscribe to Pro
Join an elite circle of professionals



Answer Query



Quick Links



Browse by Category