My income tax

My interest income is Rs. 30200/- and my LTCG after indexation is Rs. 340000/- i, e Total income is Rs. 642000/- after 80C benifit of Rs. 150000/-, my net income would be Rs. 492000/- including LTCG of Rs. 340000/- with indexation, shall I hv to pay tax?
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Quick Summary
This discussion clarifies income tax obligations for individuals with interest income and Long Term Capital Gains (LTCG). It explains that LTCG exceeding Rs. 1 lakh is taxable at a 10% flat rate after indexation, provided certain conditions like STT payment and stock listing are met. The thread advises using ITR-2 for accurate tax calculation based on total income, including LTCG and deductions like 80C.

Long term capital gain arises it will be taxable

Fill itr2. It will automatically calculate and work out details of tax to be paid or not

Long term Capital gain tax are applicable in the following cases :
some pertinent points
a) stt paid.
b) stocks are enlisted in recognized stock exchange.

d) Its for an aop 20% Flat rate.
e) its for an individual indexation is required calculate capital gain tax is applicable long term in excess of rs.1 lac.10 %

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