Taxability of STCG when the total income falls below the non-taxable limit
This query is : Resolved
Quick Summary
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
- CAPITAL GAIN BASE ON NOTIFICATION
- NRI starting business in India
- ITDS U/S.194T of Firm
- Unregistered suppliers utility
- Non-Compliance documents have not been submitted by the contractors debited
- EXPORT COMMERCIAL INVOICE HSN CODE
- Resigning a auditor from the company for misconduct
- Capital gain on sale and purchase of plot
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- FCRA 6 E- Intimation
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
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
