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Ltcg and stcg u/s 112 and 111a

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 April 2015 Hi Sir,

Mr. A have have Short Term Capital Gain on Equity Mutual Funds (liable to STT) Rs. 30000 and

Long Term Capital Gain on Equity Mutual Funds (liable to STT) Rs. 20000

Rental Income Rs. 90000

So Total Income 30000+20000+90000=Rs. 140000 this is below Exemption limit income

so Mr. A is liable to Pay any tax on STCG or LTCG income or not ?
Please provide valuable information to me?
Thanks for you all.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
04 April 2015 Since the Total income is below the taxable limit Mr A is not liable to pay tax on any type of income mentioned by you.

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