Basic exemption on ltcg

21810 views 17 replies

Abhi 

assuming the lady's age is below 60yrs and AY 2012-13

By using this formula=  {LTCG- [1,90,000-(4,26,000-2,50,000)]}

                                                             = Rs 2,36,000

Because this amount is lower than Rs2,50,000 (LTCG)

Therefore it is taxable @ 20% and the tax payable on Rs.2,36,000 @ 20% = Rs47200+cess @ 3%

Suppose there is no deduction U/s 80C of Rs 25000, then the amount so calculated above will be Rs 2,61,000

So here tax liablity will be

on LTCG 2,50,000 @ 20% and balance Rs 11,000 @ 10%

total tax liabilty will be Rs 51,100+cess @ 3%

Suppose I have salary income of Rs.2lk and other souces income of Rs 50k and LTCG is Rs.1.25 lk/- and i also Invetsment in chapter VI-A of Rs.70000/-

As per the AY 2018-19 basic exemption slab is Rs.2.5lks after that 5% tax would be application till Rs.5lks.

My query is whether 80c deduction can be claim against the income before leaving the LTCG tax. also rebete u/s 87a can be availble for long term gain.

 

Suppose I have salary income of Rs.2lk and other souces income of Rs 50k and LTCG is Rs.1.25 lk/- and i also Invetsment in chapter VI-A of Rs.70000/-

As per the AY 2018-19 basic exemption slab is Rs.2.5lks after that 5% tax would be application till Rs.5lks.

My query is whether 80c deduction can be claim against the income before leaving the LTCG tax. also rebete u/s 87a can be availble for long term gain.

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