Can a senior citizen claim the Chapter VI A deductions against LTCG?
Can u please explain witha Ref. Section
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80 c to 80u against ltcg
Replies (2)
LTCG is taxable at special rate .....chapter 6a deductions are not allowed to be deducted from such gain....
According to section 112 of Income Tax Act 1961
1. LTCG is taxable @ 20%
2.Basic exemption unexhausted under any other income can be deducted from LTCG
3.Chapter VI A deductions cannot be availed in respect of LTCG.
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