Taxability of STCG when the total income falls below the non-taxable limit
This query is : Resolved
16 April 2022
I have an STCG of Rs.16,000 from the sale of listed shares. However, my total income from all sources is Rs.1,40,000 which falls below the non-taxable limit of Rs.2,50,000. Whether I am liable to pay a tax of Rs.2,400 @15% on the STCG of Rs.16,000 or my tax liability is NIL due to my total income falling below the non-taxable limit?
16 April 2022
Your tax liability is NIL due to your total income falling below the non-taxable limit.
16 April 2022
No you are not liable to pay any tax.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR-Capital Gain
- CLOSING STOCK QUERY
- Gst on travel by air for business purposes
- GST ISD Query on various AMCs
- IT returns for fresh job holders
- F&O reporting in ITR
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Sale of Mutual Funds In Diffirent Financial Years
- CASH GIFT FROM BLOOD RELATIVE
- Itr processing refund
- U/S 194 T
- TDS refund Indemnity Bond
- ITC BENEFIT ON BROKRAGE PAID
- PF wage ceiling
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
