Dear All,
Pls let me know whether basic exemption limit can be claimed against CG @ 20% slab.
consider there is no other income for the period.
Menu
Capital gain vs basic exemption limit
Replies (2)
yes you can claim
Agree with Sidharth. To have better understanding I would like to explain as follows :
any such other income of urs will reduce the basic exemption limit
for eg :
IOS : 15,000
CG : 250,000
basic exemption limit : 200,000
then your taxable CG will be 250000 - ( 200,000 -15,000)
= 65,000
Recent Threads
- Regarding cancellation of GST Number
- GST on business receipts pre -registration
- A Restaurant registered under the Composition Sche
- GST RATE OF OUT DOOR CATERING
- Non resident taxation & income tax in India
- GST Rate for oral Hygiene Combo Pack
- GST registration - Address error
- TDS on property pu
- Import of goods IMS action related
- Incometax Survey - Updated Return Filing after the
Related Threads
CAclubindia
