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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Tax on Deemed Capital Gain
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
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
