Income tax return processed

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hello all

my husband filed his returns thru a CA where he filed return with nil tax to be paid under new regime

his total income was under 7 lacs

but 2 days back return got processed and they charged 15% tax on short term capital gains and balance tds cut on fixed deposits will be refunded

our CA says its wrong but we are confused

we hv only 2 income sources

1st is interest in fixed deposits

2nd is short term capital gain tax that is selling shares alloted in ipo only

i m attaching statement of income n acknowledgement of return filed

can anyone tell me if the tax charged is correct

its rs. 9158 plus cess which will be deducted n balance refund

thank you


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Replies (1)

Yes, it is correct. The tax on ST CG u/s. 111A is not eligible for deduction under sec. 87A. Hence tax over it is leviable.


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