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tax liability

168 views 3 replies

Rajat Patni

50 Points Joined June 2018

LTCG - 2.60 LACS (Sale of equity shares)
STCG - 60000 (sale of equity shares)

age - below 60 years
compute tax liability

Replies (3)

Gangadhar

CA FINAL

101 Points Joined June 2015

they attract tax of 20% nd 10% respectively
irrespective of Bel

Pankti Joshee

student

308 Points Joined March 2019

NO.

LTCG TAX ON 1.60 LAKHS..... 15000/-

STCG ON 60000.... @ 15% .... 6000/-

Total 21000 +4% cess

i think in case of a resident the LTCG u/s 112 or 112A or STCG U/S 111A shall be reduced by the unexhausted basic exemption limit and the balance shall be subject to tax, my doubt is that after basic exemption limit the balance of income of 70000 will be taxable at which rate?