Deduction

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kalaivani.c (Querist)
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21 February 2015 Sir,
if an assessee has only short term capital gains whether can he claim deduction under chaper VI -A u/s 80C?

@VaibhavJ

@VaibhavJ (Expert)
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21 February 2015 Hi

Deductions under Chapter VI-A are barred for short-term capital gains under Sec. 111A(2), where such short-term capital gains arise on sale of shares or equity oriented investments in mutual funds.

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@VaibhavJ

@VaibhavJ

@VaibhavJ (Expert)
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21 February 2015 Refer: http://www.bcasonline.org/articles/artin.asp?518

let us know your source of short term cap gain.

Thanks!!
@VaibhavJ

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kalaivani.c

kalaivani.c (Querist)
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21 February 2015 Sir,
it is from sale of land

@VaibhavJ

@VaibhavJ (Expert)
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21 February 2015 Hi,

Yes you can since it is not covered u/s 111A, check pg 17.

http://www.incometaxindia.gov.in/tutorials/14-%20stcg.pdf

Thanks!!
@VaibhavJ