24 April 2022
Sir I have taxable income below 5 lakh but during the year have earned short term capital gain from sale of shares rs 200000 How to calculate income tax
26 April 2022
Thanks for reply sir But by taxable income is below 5 lakh. Am i still need to pay tax. Can i treat this short term capital gain as business income and need not required to pay tax as i am below taxable limit If yes then what are pros and cons of treating short term capital gain as business income
26 April 2022
When the total income of an individual or HUF is upto Rs. 5,00,000 then he claim rebate u/s 87Q upto Rs. 12,500. In your case, since your STCG is Rs. 2,00,000, a higher tax rate will apply in your case, and you have to pay tax.
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