02 February 2011
NRI has earned SHort Term capital gain from sale of hosue property....he does not have any other income in india...now whether he will be entitled to basic exempition limit of 160000 and 10 and 20 % slab...or otherwise the entire capital gain will be taxed @30%?
02 February 2011
Tax on STCG will be Charged on Slab Rate basis. However he will not get deduction under chapter VIA if he is not having any income other than STCG.
CAclubindia
