Can a senior citizen claim the Chapter VI A deductions against LTCG?
Can u please explain witha Ref. Section
Menu
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.
Recent Topics :
- Guidance Required on Filing Fresh Registration und
- IT Return Refund Status AY 2026-27
- Clarification Regarding Income Tax Demand Notice
- Online PAN Download: Check How?
- Demand of Late fee/Interest under section 75 of GS
- DSC registration on TRACES portal
- Can we get registered for MCA if we get a Virtual
- DONATION PAYMENT REG
- GST IDS Refund – Statement 01A: Invoice Not
- TDS deposit code & TDS return
Related Topics :
CAclubindia
