LTCG exemption

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21 Points Posted on 23 February 2021
LTCG is exempted upto Rs.100000/- in a Financial year under which section 112A or 112A(2)?
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On 23 February 2021 at 11:59 Report
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This discussion clarifies the Long Term Capital Gains (LTCG) exemption available up to Rs. 1,00,000 in a financial year. The exemption is specifically detailed under Section 112A(2) of the Income Tax Act. This newly inserted section provides the precise limit for tax-free LTCG.

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Chartered Accountant
24588 Points Posted on 23 February 2021
112A(2)
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On 23 February 2021 at 12:24
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17269 Points Posted on 24 February 2021
Both are right answers
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On 24 February 2021 at 12:34
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Profession
28261 Points Posted on 25 February 2021
A newly inserted section implies that.
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On 25 February 2021 at 13:31
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Chartered Accountant
7550 Points Posted on 25 February 2021

The limit of Rs.1,00,000 is specifically stated in Section 112A(2) . Refer - https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx

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On 25 February 2021 at 14:09
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Profession
28261 Points Posted on 25 February 2021
Refer Sec 112A (2)
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On 25 February 2021 at 14:33

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