Compute the income tax in following case?
Income from other source = 40000
Agriculture income = 150000
Short term capital gain U/S 111A = 2500000
Thanks in advance.
Menu
Tax querry
Replies (2)
1)On normal income including agricultural income -3,78,000 plus education cess and
2)on agri income plus normal exemption limit -16,000 plus education cess
3) Subtract 1) from 2)
But
My querry is that in this case the normal income is Rs. 40000. So the benefit available u/s.111A (i.e. 160000-40000) is reduced from the STCG u/s. 111A or not?
Recent Topics :
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
Related Topics :
CAclubindia
