What will be tax if Income from Salary & LTCG ?

What will be tax for following incomes for A.Y.2011-12:

Salary':80000

Long term capital gain : 100000

Does i have to pay tax only on 20000( 180000-160000[basic exemption limit]) or does i have to pay tax on entire LTCG of rs 1n lacs?

Replies (4)

IN YOUR CASE, THE GROSS TOTAL INCOME WILL BE RS. 180000. 

 

TAX ON TOTAL INCOME = 180000-160000 = 20000 

 

TAX = 20000*10% = 2000

 

E.CESS = 2000*3% = 60

 

THEREFORE, TOTAL TAX LIABILITY = RS. 2060.

 

 

REGARDS,

DEVENDRA KULKARNI

If you are not getting any exemption u/s 54 for LTCG, then whole 1,00,000.00 will be taxed @ 15%. LTCG is without any slab or deduction.

On 80,000.00 slab will be allowed and hence, no Taxable Income.

So, Tax Calculation will be:

1,00,000.00 * 15/100=15,000.00

 

Regards,

Abhishek K. Pandey

Long Term Capital Gain :

If your total income including the LTCG is less than the taxable threshold, you would not have to pay any LTCG tax. If your total income excluding LTCG (A) is less than the taxable threshold, but the total income including the LTCG (B) is more than the taxable threshold, you would only have to pay LTCG tax on the excess amount (B - taxable threshold).

Originally posted by : vinayak c. chavan

What will be tax for following incomes for A.Y.2011-12:

Salary':80000

Long term capital gain : 100000

Does i have to pay tax only on 20000( 180000-160000[basic exemption limit]) or does i have to pay tax on entire LTCG of rs 1n lacs?


All u guys are wrong i got answer: If my salary is 80000 & LTCG is Rs.100000 then i will have to pay tax on Rs.20000 as LTCG and it will be 20% of 20000 & e-cess...i.e. my tax will be Rs.4000+120(ecess) if my salary is Rs.170000 & LTCG is 100000 then y tax will be as follows: 10% of 10000=1000 (170000-160000=10000) & 20%0f 100000 (20000 as LTCG tax) so my total tax will be 21000 + 630(e-cess)...common guys i am CPT passed still i have find it....and if u want to confirm my answer thengo to https://incometaxindiaefiling.gov.in/portal/downloads.do and download ITR-2 in exce format fill it above figures of salary & LTCG and then click on calculate tax button and see the magic........bookishor knowledge is not important my friends what counts its ur sense of humor at crucial times....well thanks for all the wrong answers...be careful next time answering....dont mind it...

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details