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Tax on Capital gain

Tax queries 992 views 14 replies

I have only income from short term Capital gain  which is of 50,000 .i have not any other income 

so will it be taxable as for men have excemption limit upto 1,50,000 for 2008

Also,Share divident is taxable or tax free

Thanks in advance for ur reply

 

Replies (14)

Your income will be taxable.

since your total taxable income is below 150000 so it is not taxable.

and divident from a domestic company is tax free.

Hello Parth

There is not any tax liabilty and divedend is  exempt from tax.

 

Basic exemption of Rs. 150,000/- will be available and hence no tax on STCG and dividend exempt

 no tax has to be paid by u. as stcg is included in basic exemption limit. if it would hv been ltcg den it would hv been taxable.. 

dividend 4m indian companies r exempt under sec 10(34)

ya i agree no tax.

There will be no tax liability on STCG and dividend is also exempt 

Originally posted by :Parth Patel
" I have only income from short term Capital gain  which is of 50,000 .i have not any other income 
so will it be taxable as for men have excemption limit upto 1,50,000 for 2008
Also,Share divident is taxable or tax free
Thanks in advance for ur reply
 
"


 

There is no tax liabilty because a resident can enjoy exemption limit for STCG & LTCG. If u NR than u have to pay tax on STCG.

Your income is not taxable as it is less than the minimum taxable limit i,e 1,50000/-

dividend frm domestic company is also exempt....

 its not taxable as its within the exemption limit and deividend from equity shares is exempt

no tax.  you can check https://www.payit.in

ur income is not taxable .......

Your income must be taxable under the head of STCG at the rate of 10% whether your income is not crossed Rs.150000/-,

i think that ur income shall be liable for tax as your income even though does not exceed 150000/- but the short term capital gain is liable for tax at 10% . Correct me if i m wrong.


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