capital gains

This query is : Resolved

namrata (Querist)
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05 October 2009 In the case of resident an Individual or a HUF, if the basic exemption not exhausted by any other income then STCG u/s 111A shall be reduced by the unexhausted basic exemption limit and only the balance STCG shall be chargeable to tax @15%.

Can any body explain it with a few Examples?

Rajeev

Rajeev (Expert)
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06 October 2009 Suppose your business income is 100000/-
STCG is 70000/-

and 160000/- is the minimum exemption limit , then only 10000 will be the balance STCG which will be chargeable to tax .

Anjani Pratap Tiwari

Anjani Pratap Tiwari (Expert)
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06 October 2009 Agreed with Mr. rajeev

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namrata

namrata (Querist)
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06 October 2009 Thanks