Easy Office
LCI Learning

Unexhausted basic exemption and sec.111a

This query is : Resolved 
Profile Image

Profile Image

(Querist)
04 July 2018 If a person has net income of Rs.160000/- from all sources and STCG u/s 111A of rs.5000/-, is he liable to pay tax? can he utilise the unexhausted basic exemption towards STCG u/s 111A? since his total income will be rs.165000/-, he is exempted from payment of taxes?
Profile Image

CA Ankit R Momaya

Profile Image

CA Ankit R Momaya (Expert)
04 July 2018 He can utilise the unexhausted Basic exemption limit and is exempted from payment of taxes.
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
04 July 2018 Exempted from tax. Inference- 1st proviso to 111A(1)
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

sri

Profile Image

sri (Querist)
04 July 2018 thanks for the reply

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links