becker cpa

Limited Period Offer Avail 20% discount in all subjects CA,CS and CMA,Coupon- OFFER20 Call: 088803-20003

CA Final Online Classes

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Deductions


Arun (Student CA Final )     13 March 2013

Arun
Student CA Final  
 142 points

| My Other Post

Lets directly come to the case:

Mr. X had only LTCG income of 300000 in the FY.

sec 112(2) says : deduction under chapter VI-A is not allowed for LTCG.

And there is also a provision that 80C deduction is not allowed for LTCG, STCG(111A) & Casual income.

Now plz tell me will Mr.X is allowed to take the minimum exemption of 200000 or all the 300000 is taxable.

VIKAS.A

VIKAS.A (SOMETHING IS BETTER THAN NOTHING)     13 March 2013

VIKAS.A
SOMETHING IS BETTER THAN NOTHING 
 73 likes  1095 points

View Profile | My Other Post

 

PLEASE FOLLOW THIS LINK WITH THE NATURE OF ASSET U SOLD, U CAN AVAIL DEDUCTION FOR SURE

https://www.google.co.in/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&ved=0CC4QFjAA&url=http%3A%2F%2Fwww.taxpointindia.com%2Frrcapitalgaindeduction.html&ei=XBlAUYvOJYn5rQeejoDwCQ&usg=AFQjCNGb9a0ovS1WF9wuNoxH-nb4XPbWmg&bvm=bv.43287494,d.bmk

 

Arun

Arun (Student CA Final )     13 March 2013

Arun
Student CA Final  
 142 points

View Profile | My Other Post

Thanks,

But...... if no any assets have been purchased than??? Coz the link u gave me says only about on the purchase of new assets.

VIKAS.A

VIKAS.A (SOMETHING IS BETTER THAN NOTHING)     13 March 2013

VIKAS.A
SOMETHING IS BETTER THAN NOTHING 
 73 likes  1095 points

View Profile | My Other Post

IF U HAVE LOSS IN NON SPECULATION BUSINESS OR LOSS UNDER HOUSE PROPERTY OR ANY UNOBSOBED DEPERCIATION FOR CURRENT YEAR THEN THESE ITEMS CAN BE SET OFF WITH THAT,

EXCEPT THAT IF U R NOT PURCHASING NEW ASSET ASSET U CANNT CLAIM DEDUCTION

1 Like

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Related Threads


Loading


Trending Tags