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LTCG ON SIP

Tax queries 1173 views 3 replies

Hello,

Case    : long term capital gain arise on redumption of SIP is Rs. 37000 and tax payable @ 10% withought indexation.

Query? : 1> Wether any education cess applicable on tax ?

                2> Interest U/s 234 A, B or C is applicable, if late filing of return ?

Thanking You,

Mukund 

Replies (3)

Rate of 10% is come under special rate.

education cess and interest liabilty u/s 234 is applicable on total tax liabilty.

so firstly calculate ur tax liabilty then add education cess and add interest

Yes you have to pay the tax and eductaio cess 3% on total tax liability and accordinly you have to calculate the interest us 234A,B,C.

Thanks,

Regards,

Rahul Gupta

09958073300

rahulguptacacs @ yahoo.co.in

rahul.gupta @ generalcable.co.in

 

 

 

Rate of 10% is come under special rate.

first of all you have to calculate ltc @ 10% than education cess & sec.edu. cess

  and interest liabilty u/s 234 A,B,C is applicable on total tax liabilty.

DALPAT GOYAL

CA FINAL STUDENT


CCI Pro

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