Capital gains and Section 87A

Tax queries 199 views 1 replies

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

Replies (1)

If net taxable income is 4.75L, rebate is available.


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