if the LTCG is more than 100000 what is the taxable amt
For eg if LTCG is 110000,
10% tax on 110000 or 10000????
under the new budget proposals
if the LTCG is more than 100000 what is the taxable amt
For eg if LTCG is 110000,
10% tax on 110000 or 10000????
under the new budget proposals
On the whole of the amount. But the gains accrued before 31 Jan to be ignored for taxation purposes.
"The proposed new section 112A provides that where the total income of an assessee, includes any income chargeable under the head “Capital gains”, arising from the transfer of a long-term capital asset, being an equity share in a company or a unit of an equity oriented fund or a unit of a business trust, subject to the conditions specified under the section, the tax payable by the assessee on the capital gains exceeding one lakh rupees shall be calculated at the rate of ten per cent.".... Extracted from Finance bill, 2018
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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