Computaion of Income

This query is : Resolved

Jitendra (Querist)
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26 May 2011 Hi,

Female Assessee

INCOME FROM HOUSE PROPERTY Rs. 1,48,904.00
Short Term Capital Gain on Sale of Shares
Rs. 1,80,453.00
INCOME FROM OTHER SOURCES Rs. 7629.00

Can u please help me to compute rax for the above mentioned Income.

jagan sai

jagan sai (Expert)
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26 May 2011 i assume A.Y.2011-12 as i didnt mention

For woman assessee the basic exemption limit is Rs.1,90,000/-

Add both house property income and Other sources : Rs.156533/-

i.e., below the limit
you need to pay tax on STCGS on sale of shares @ 15%

pay tax on difference: 180453- 33467 = 146986 * 15% around 23000 you get