About tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 January 2016 Dear Sir…Suppose!! I have a Business Income of 222500 /- and I have a Long Term Gain On Sale of Shares of 1385800 /-….after deduction of all expense I got Net Profit 1508900 /-….
How much The Amount of Income Tax..?? Is I have to pay tax on total 1508900 /- ??

Ganeshbabu K

Ganeshbabu K (Expert)
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29 January 2016 Longterm gain on sale of shares is exempt from incometax if STT suffered on sale of shares(sale of shares through stock exchange)
business income not exceeded basic exempt limit

Hence there is no taxliability on you

Querist : Anonymous

Querist : Anonymous (Querist)

29 January 2016 Thankyu very Much Sir.. :)

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