ujwal mishra (41 Points)
28 May 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 28 May 2021
Sivaramaraju G
(Learner)
(2398 Points)
Replied 28 May 2021
Remember you can use BEL for LTCG only after all other incomes are adjusted against BEL.
here you have business income of Rs. 2,90,000 which has ate all your BEL and you don't have BEL balance to use against LTCG. hence you have to pay tax as below
Business income is 2.9L-2.5L=40K*0.05=2K
LTCG=2L*0.2(LTCG Rate)=40K
Tax Liability is 40k+2k-12.5k=29.5k+1.18k=30.68k
veerendar singh
(tax consultant)
(3306 Points)
Replied 28 May 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 30 May 2021
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