U/s 111a
This query is : Resolved
28 July 2012
I have income of Rs 150000 and short term capital gain tax of Rs 8000 under Section 111 A i.e sale of shares can you please advse how tax is to be calculated
29 July 2012
According to section 111A you need not to pay any short term capital gain tax based on information provided by you.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
29 July 2012
Sir your total income i.e. 150000+8000 donot exceed exemption limit and hence no tax is payable. However if the case was 150000+40000 than you would be liable for special rates of taxes u/s 111A at Rs. 10000/- only(in case of limit of 180000/-)
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
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Form 121 & TDS deduction
- LC charges in relation to Asset purchased should be Capitalised ?
- Transporter Declaration form
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Multiple trade mark
- Invoice V/S Goods receipt Note Date
- Regarding appeal to GSTAT
- Clarification on TDS Applicability
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
