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surcharge on taxable income

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15 Points Posted on 16 August 2019
hi , my taxable income is 49,50,000.i have long term capital gain from stock market is 65000. so may I have to pay surcharge for income above 5000000
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On 16 August 2019 at 20:11 Report
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17264 Points Posted on 16 August 2019
You may not have to pay in view of maximum marginal relief.
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On 16 August 2019 at 20:44
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15 Points Posted on 16 August 2019
but short term capital gain income added in total taxable income or not?
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On 16 August 2019 at 20:46
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17264 Points Posted on 16 August 2019
LTCG upto 1 lakh is exempt and therefore your total income will be below 50 lakhs. so no surcharge worry
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On 16 August 2019 at 21:34
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113 Points Posted on 17 August 2019
if such long term capital gain cover under sec 112A then your taxable income will less than 50 lakhs hence no surcharge
if not covered under sec 112A then go for MMR
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On 17 August 2019 at 12:12
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15 Points Posted on 17 August 2019
what is section 112a
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On 17 August 2019 at 12:15
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113 Points Posted on 17 August 2019
sec 112A
Any LTCG arise on transfer of following
1. Listed equity shares or
2. units of equity oriented fund or
3. units of business trust
with STT(securities transaction tax) paid

then Such LTCG will be exempt from tax upto 1lakh beyond which will be taxable at flat 10%
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On 17 August 2019 at 12:20


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