I am having long-term capital gain and tax on it is 9900
and I am also having rebate on agriculture income of RS 10500 can this be setoff
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Tax payable
Replies (4)
No. As agricultural income is outside the purview of Income Tax, you cannot offset the LTCG.
Yes he is absolutely right
Thank you
Agri income is exempt and it's considered only for tax rate purposes for Non-Agri income.
Agri income is exempt and hence whete is the question of any rebate.
LTCG is taxed at Flat rate seperately and not alongwith regular tax slab rates.
LT Capital Loss can be set off only against LTCG.
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