If a person has net income of Rs.160000/- from all sources and STCG u/s 111A of rs.5000/-, is he liable to pay tax? can he utilise the unexhausted basic exemption towards STCG u/s 111A?
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Treatment of unexhausted basic exemption for stcg u/s 111a
Replies (3)
No tax liability.
Yes, He can utilise basic exemption limit
There will be tax liability
There will be tax liability
Agree with Dhiraj Sir, No tax liability
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