TAXABILITY OF INCOME
This query is : Resolved
20 May 2011
IF A PERSONS EARNS CAPITAL GAIN
(WHETHER SHORT TERM AND/OR LONG TERM)
AND
HIS/HER INCOME IS BELOW TAXABLE LIMIT (INCLUDING ABOVE SAID CAPITAL GAIN) AFTER CLAIMING DEDUCTION U/S. 80C TO 80U
THEN
WHETHER HIS/HER INCOME WILL BE TAXABLE OR NOT
IF YES
THEN HOW TO COMPUTE TAX LIABILITY
PLEASE CLARIFY WITH AN EXAMPLE
THANKS IN ADVANCE
(WHETHER SHORT TERM AND/OR LONG TERM)
AND
HIS/HER INCOME IS BELOW TAXABLE LIMIT (INCLUDING ABOVE SAID CAPITAL GAIN) AFTER CLAIMING DEDUCTION U/S. 80C TO 80U
THEN
WHETHER HIS/HER INCOME WILL BE TAXABLE OR NOT
IF YES
THEN HOW TO COMPUTE TAX LIABILITY
PLEASE CLARIFY WITH AN EXAMPLE
THANKS IN ADVANCE
20 May 2011
calculate the natural income ( except capital gain)
deduct chapter VIA / 80C to 80U
add capital gain
if the product is below threshold limit, then no tax, otherwise taxable
file to return to establish your claim.
deduct chapter VIA / 80C to 80U
add capital gain
if the product is below threshold limit, then no tax, otherwise taxable
file to return to establish your claim.
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