Hello,
I have Net income after deductions of 4,75,000 and LTCG of 50,000 (Exempt upto 1,00,000 u/s 112A) on top of that. A leading online portal is adding the Capital Gains amount to the net income to arrive at the total figure of 5,25,000 which disallows the rebate u/s 87A.
Is it correct to add LTCG to arrive at total income even though they are exempt? Or am I eligible for Rebate under section 87A?
Regards
CAclubindia
