Save Rs 499. Go Ad-Free with CAclubindia Pro for 2 Full Years. Subscribe Now!

Capital Gain

ITR Filing 892 views 5 replies

ranjitkarmakar

service

313 Points Posted on 20 December 2010

Sir please help me, my client Short term capital gain for 2009-2010 F.Y. (STT PAID) is22546/- and speculation income is 2000 what will be short term capital gain will be paid in ITR for the said financial year pls guide me

Replies (5)

Divya K S

289 Points Posted on 20 December 2010

Income under the head capital gains will be Rs. 22546 & under speculation business it will be Rs. 2000. If there is no other income apart from these, then no tax liability arises since the basic exemption limit is not crossed.

Sunshine

Helping All

10575 Points Posted on 20 December 2010

agree with Divya...if there is no other income then no tax liability but in case there are other incomes also and it exceeds the exemption limit..then generally Short term capital gain will be taxed @ 15% u/s 111A..

Guest

agreed with sneha and divya both

M .K. Jha

CA Final

484 Points Posted on 20 December 2010

Agree to all....

Nabeel

3288 Points Posted on 21 December 2010

Originally posted by : Sneha.... sunshine
	agree with Divya...if there is no other income then no tax liability but in case there are other incomes also and it exceeds the exemption limit..then generally Short term capital gain will be taxed @ 15% u/s 111A..