Menu
Ltcg & stcg
i have sold some shares which i have bought 15 days back and gained some amount. what is the treatement for the same the other thing i have done is sold shares which i have bought in 2008 with stt and incurred loss what is the treatement of both the transaction alongwith what if my annual income is below basic exemption limit
Replies (2)
LTCL on which STT is paid cannot be set off against any taxable income. Gain from sale of shares purchased 15 days back is treated as STCG. If STT is paid, it is taxable @ 15% as per 111A else at normal rates. However, you can claim relief as per priviso to 111A
relief = exemption limit - (net income - STCG)
If Gross total income during the year is less than 2 lacks than also STCG is payable??
Recent Topics :
- Subject: Urgent Assistance Required – TRACES
- Claiming business re-imbursements while filing GST
- E-waybill 14 Digit Numbring
- Non filing of MGT-14 for MD appointment
- HUF AFFIDAVIT vs HUF DEED - REQUIREMENTS & STA
- Free Pre-Filing Tool to Match GSTR-3B vs GSTR-2B (
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
- Register on Income Tax as CA
- Deduction In Employee Provident Fund
Related Topics :
CAclubindia
