Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 June 2014
whether the income from shrot term gains/long term gains have to clubbed in the statement of income and then assess the gains seperately. pl. clarify
07 June 2014
to arrive at total income, all the incomes earned including capital gains are to be clubbed/added together.
Thereafter, for computing tax liability, you need to consider the items with different tax rates separately and also provide for exemption, if any, claimed.
Thereafter, for computing tax liability, you need to consider the items with different tax rates separately and also provide for exemption, if any, claimed.
07 June 2014
you can club the income of capital gain but when you calculate tax on income then you have to consider separately.
07 June 2014
Yes,first of all you have to calculate your GTI by adding income under the five heads.After that calculate your TI by providing for deductions under Ch VI A.You will arrive at your total income.
Out of this TI deduct your STCG and tax them accordingly and the remaining income at the prevailing rates.
Out of this TI deduct your STCG and tax them accordingly and the remaining income at the prevailing rates.
07 June 2014
Dear Deepika,
not only STCG, but LTCG also needs to separated.
not only STCG, but LTCG also needs to separated.
07 June 2014
Dear Nikhil
Agreed with your point.It was unintentionally omiited.:)
Agreed with your point.It was unintentionally omiited.:)
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