I had total gain of Rs 150 , 000 on equity shares over long term ( more than 1 year)
My understanding was, LTCG of Rs 50,000 ( above 100,000) is taxable at 10%.
Question is , whether this LTCG of Rs 50,000/- should be added to the total income for computation of final tax?
Menu
LTCG of equity shares treatment for total income computation
Replies (4)
You declare total transactions in Schedule 112A, where in total LTCG of Rs. 1,50,000/- would be calculated. Finally same will be taxed just Rs. 5,000/- by utility.
Should this 50,000/- be added to total income?
It gets added to total income at special rate of 10%.
You are required to fill schedule 112A for shares txn. The utility will take care of LTCG income.
Recent Topic
- SBI Funds Management IPO Allotment on July 17: Lis
- PF Final settlement shown in Salary Form 16 FY 26-
- ITR3 online utility: Part B TTI is populating fiel
- Sale of rural agriculture land
- How to show Capital Gain on gifted property
- TIS Glitch Alert : inflated summary
- IT returns of partners
- Challan status in Payment Failed but amount deduct
- Sec 54 exemption
- Query regarding retirement benefits
Related Topics
CAclubindia
