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Tax applicability

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 December 2011 ONE OF OUR CLIENT HAS LONG TERM CAPTIAL GIAN OF RS. 12450. HIS OTHER INCOME IS RS. 198750. HE IS A SENIOR CITIZEN. WILL LTCG WILL BE TAXABLE OR WILL GET EXEMPTED UNDER THE BASIC LIMIT OF RS. 240000 FOR THE F.Y- 2010-11
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Kapil Arora

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Kapil Arora (Expert)
09 December 2011 Yes Sealing limit of Rs 2.40 also apply on LTCG if Resident Assessee(i.e Senior Citizen).

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