28 June 2011
sir , whether tax on short term capital gain under 111A is payable if his total income does not exceed maximum amount not chargable to tax say; basic exemption limit 160,000 Profit of 111A 200000 lic primium 15000
28 June 2011
in this case u will have to pay tax on 40000 at 15 per cent no deduction will be allowed under S. 80C in respect of LIC premium I have assumed u r a resident individual
CA MANOJ GUPTA' JODHPUR 09828510543 gm2104@gmail.com
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