Suppose I have salary income of Rs.2lk and other souces income of Rs 50k and LTCG is Rs.1.25 lk/- and i also Invetsment in chapter VI-A of Rs.70000/-
As per the AY 2018-19 basic exemption slab is Rs.2.5lks after that 5% tax would be application till Rs.5lks.
My query is whether 80c deduction can be claim against the income before leaving the LTCG tax. also rebete u/s 87a can be availble for long term gain.
" whether 80c deduction can be claim against the income before leaving the LTCG tax.?
Ans. Effectively..... yes. ( i.e. your taxable income will reduced to that effect)
"also rebete u/s 87a can be availble for long term gain.?""
Yes, if total taxable income is within 3.50 lakhs, the net tax liability will be reduced.
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