If there is loss in Properiteorship firm but properiteor has Long Term Capital Gain. Is standard deduction & deduction under 80c, 80d allowed or not ?
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Long term capital gain>>standard deduction allowed or not
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Yes , it is allowed
Sir as per inputs I have recieved no deduction u/s 80c to 80u are allowed from LTCG only standard deduction is allowed. Could you please cross check ?
No deduction fomr sections 80C-80U is allowable from LTCG as there are other sections such as 54EC, 54, 54F to claim exemption from LTCG.
Any expenditure incurred in connection to the transfer of LTCG is allowable as deduction from the sale consideration.
No,
Deductions(80C-80U) are allowed from normal income..
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