Assesse is a women assesse aged lessthan 65 years. Her income is the following :
LTCG Rs.163869/-
STCG Rs.301075/-
IFOS Rs.111529/-
LIP Rs.100000/-
Agri Income Rs.88000/-
Please solve this what is the tax liability for the FY 06-07 (Asst Year 07-08)
Please solve this query
Thanks in advance,
LTCG STCG with STT or not
| Originally posted by :shankar | ||
| " | Assesse is a women assesse aged lessthan 65 years. Her income is the following : LTCG Rs.163869/- STCG Rs.301075/- IFOS Rs.111529/- LIP Rs.100000/- Agri Income Rs.88000/- Please solve this what is the tax liability for the FY 06-07 (Asst Year 07-08) Please solve this query Thanks in advance, |
" |
Plz give clear detail abt cap gain.if we assumed the whole LTCG is taxable and STCG is not related to sec111A than tax calucaltion is as follows:---
I solve Ur query in attached exl file.
Dear Shankar,
There are many issues arising here.
i. Is LTCG through recognised stock exchange and STT is paid or is it for any other purpose.
ii. STCG is for shares, debentures and bonds or for any other purpose.
This is because the computation of tax liability differs a lot due to this reasons.
Pls. clarify me regarding the matters stated above.
Dear Shankar,
There are many issues arising here.
i. Is LTCG through recognised stock exchange and STT is paid or is it for any other purpose.
ii. STCG is for shares, debentures and bonds or for any other purpose.
This is because the computation of tax liability differs a lot due to this reasons.
Pls. clarify me regarding the matters stated above.
Dear Shankar,
There are many issues arising here.
i. Is LTCG through recognised stock exchange and STT is paid or is it for any other purpose.
ii. STCG is for shares, debentures and bonds or for any other purpose.
This is because the computation of tax liability differs a lot due to this reasons.
Pls. clarify me regarding the matters stated above.
CAclubindia
