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tax on short term cap. gain if total income is less than 1.6

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(Querist)
11 November 2010 Dear All,

Please advise urgently whether a male has income from other sources Rs.40000/- and short term cap. gain on sale of shares is Rs. 105000/- (total income for the previous year is Rs. 145000/-) then he needs to pay tax on short term cap. gain?
Rgds,
Ramesh
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
11 November 2010 NO NEED TO PAY ANY TAX.
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CA Navin Jain

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CA Navin Jain (Expert)
11 November 2010 I AGREE
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Professional Careers Academy

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Professional Careers Academy (Expert)
11 November 2010 no tax upto basic exemption limit.
regards,
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taxindiaconnect

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taxindiaconnect (Expert)
11 November 2010 Agreed

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