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short term capital gain under 111A

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 May 2011 sir ,
whether tax on short term capital gain under 111A is payable if his total income does not exceed maximum amount not chargable to tax say; basic exemption limit 160,000
income from business n profession 140,000
case1: STCG under 111A 20000
case2: STCG under 111A 40000 and in this case lic primium under 80C is 15000
sir please tell me the tax payable
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CA Navin Jain

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CA Navin Jain (Expert)
03 May 2011 CASE -1, NOT ANY TAX LIABILITY
CASE-2, 15% ON RS. 5000= 750+23=773

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