LTCG on sale of shares is 10% above 1 lakh gain per year.
If income of a retired person is below taxable limit (0% tax slab up to 5 lakh) how much tax/LTCG he will have to pay. e.g. annual income Rs 2.4 lakh + LTCG (sale of shares) 2 lakh i.e. total income Rs. 4.5 lakh.
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LTCG on sale of shares and tax slab
Replies (1)
Very senior citizens (80 yrs or above ) can avail basic exemption upto 5 lakhs.
If the general rate income is exhausted ,then you can avail the balance exemption limit against Capital gains .So not required to pay.
Visit my blog and comment any doubts -
sanjithkotni blogspot.com
If the general rate income is exhausted ,then you can avail the balance exemption limit against Capital gains .So not required to pay.
Visit my blog and comment any doubts -
sanjithkotni blogspot.com
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