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Capital gains

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(Querist)
24 July 2012 Is there tax applicable ,if LTCG in sale of house is Rs.63,890 and theres been deduction in 80 C for Rs.1,00,000
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Suresh Mittal

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Suresh Mittal (Expert)
24 July 2012 Deduction under section 80-C to Section 80-U are not allowed against LTCG
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sriram

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sriram (Querist)
24 July 2012 So is it taxed den???
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Suresh Mittal

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Suresh Mittal (Expert)
24 July 2012 It depends on gross income of assessee except the LTCG. If total income including LTCG is within the basic exemption limit then their will not be any tax.

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