01 April 2010
Dear sir, i m confused in following problem
Proviso To Sec.112(1)(a) said in case of a person having taxable income less than exemption limit but due to capital gain it increases & cross the exemption limit than tax to be computed as follows:
Exemption limit-(net income-Capital gain)
Now my ques is that if there is no other income or such income is so minor suppose Rs.20000 & capital gain is Rs.10,00,000 then what amount is taxable as capital gain.
CAclubindia
