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.
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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
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