Long term capital gain
This query is : Resolved
13 August 2012
Dear Experts,
Please resolve my query .
An assessee is having Rs. 2 Lacs as salary income and a long term capital gain on sale of gold for Rs. 1 Lacs . In all the assessee is having a Gross Total Income Of Rs. 3 Lacs .
Now I want to know what is the tax liability ?
If the Tax is Rs. 20600 (being 20% LTCG +cess); how i can save it ?
Urgent reply needed. Thanks in Advance
Dear Experts,
Please resolve my query .
An assessee is having Rs. 2 Lacs as salary income and a long term capital gain on sale of gold for Rs. 1 Lacs . In all the assessee is having a Gross Total Income Of Rs. 3 Lacs .
Now I want to know what is the tax liability ?
If the Tax is Rs. 20600 (being 20% LTCG +cess); how i can save it ?
Urgent reply needed. Thanks in Advance
13 August 2012
YOU CAN SAVE YOUR CAPITAL GAIN TAX BY TAKING BENEFIT OF EXEMPTION U/S 54 EC OR F
REFER TO ABOVE SECTION....
REFER TO ABOVE SECTION....
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16 August 2012
Sir
I want to know if i have to invest the sale proceeds or the capital gain?
I want to know if i have to invest the sale proceeds or the capital gain?
16 August 2012
whatever amount you invest out of sale proceeds is eligible for exemption.
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