Tax rate when STCG partly exempted in basic exemption limit
This query is : Resolved
Abhishek Agarwal
(Querist)
09 November 2009
If STCG on sale of shares on which stt is paid is exemted under basic exemption limit then what will be the tax rate applicable.
for example..income frm salary-140000
STCG on sale of shares-60000.
what is tax liability for the male individual in above example?
for example..income frm salary-140000
STCG on sale of shares-60000.
what is tax liability for the male individual in above example?
09 November 2009
50,000 * 20% =10,000 (ignored the investment as no details has been provided)
FIrst of all the basic exemption will be given from normal rate taxed income and then the extra will be given to CG.
FIrst of all the basic exemption will be given from normal rate taxed income and then the extra will be given to CG.
Abhishek Agarwal
(Querist)
09 November 2009
Guest
Guest
(Expert)
09 November 2009
Dear its 4000Rs.
& not Rs 5000
& not Rs 5000
Juzer Sadikot
(Expert)
10 November 2009
Dear Expert,
Tax liability of male individual shall be 40000*15.45% = 6180.
Regards
Juzer
Tax liability of male individual shall be 40000*15.45% = 6180.
Regards
Juzer
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