benefit of basic exemption against ltcg stcg 111a
This query is : Resolved
12 October 2017
if other than ltcg and stcg 111a is less than basic exemption then unutilised basic exemption can be used against ltcg stcg 111a
12 October 2017
Utilised balance of basic exemption limit can be used for LTCG/STCG. But when the income exceeds the basic exemption limit than you have to pay the tax @ 15%/20% and not at 10%.
For Eg.
Basic Exemption Limit is 250000
Other Income 200000
STCG 150000
Than you have to pay the tax on 100000 (STCG - (Basic Exemption Limit-Other Income) @ 15% and not @ 10%
Therefore you tax liability will be 15000+EC&SHEC
For Eg.
Basic Exemption Limit is 250000
Other Income 200000
STCG 150000
Than you have to pay the tax on 100000 (STCG - (Basic Exemption Limit-Other Income) @ 15% and not @ 10%
Therefore you tax liability will be 15000+EC&SHEC
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on capital gains revoked us 54f
- Refund of AY 22-23
- Should I include march foreign salary received in April in my income for FY 2023-24?
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Inventory of finished goods
- GST APPLICABILITY ON POLLUTION CHECK SERVICE
- Company Incorporation - CA and directors signing from different states
- Applicability of Ind As to associate of associate
- Confusion around Form 26QB fields
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Return material
- TDS is applicable on payment of Fix Meal
- Form ITC 04
- TDR receipts for agreement holder
- Point (III) 9 of GSTR-9C
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
