Short term capital gain tax
This query is : Resolved
03 March 2008
My total income is below basic exemption limit. And my total income also comprises of short term capital gain of Rs. 10000 so shall i be liable to pay short term capital gain tax on Rs. 10000.
03 March 2008
please solve as soon as possible.
03 March 2008
NO YOU ARE NOT REQUIRED TO PAY ANY TAX ON SHORT TERM CAPITAL GAIN UNLESS AND UNTIL YOU INCOME EXCEEDS THE BASIC EXEMPTION LIMIT .
03 March 2008
if ur income exceeds the basic exemption limit then you ahve to pay tax on STCG of Rs. 1000(10% on 10000)
09 March 2008
does not that means in case of situation where the part of short term gain falls under the basic standard deduction then the remaining amount of it will be taxed at 10%.
regards
regards
09 March 2008
I think it is solved that you need not to any tax is other income is below taxable limit
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
Trending Online Classes
CAclubindia
