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how much tax paid
question:: I am salary person and my salary income is 1,50,000 but i have invested in IPO so I have 40,000 gain and there are 10,000 loss so which itr filed and how much tax ? please give me suggestions.
Replies (4)
No tax liability......
File ITR1 for 'Salary' and 'Income from other sources'.
sir but people says you pay 15% on 30,000 because short term capital gain on sale of share
15% tax is applicable only to Short term capital gain on securities for which securities Transaction tax has been paid under section 111 A.For 111A also basic exemption is available.
Any way for you tax liability is nil since your income is below basic exempting limit .
Whether the loss is from business or under Capital gains?
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