Stcg
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 August 2011
For A.Y 2011-12
Income From Salary-- 120000
Profit on sale of house property(Land)-- 70000 (STCG)
Premium Paid for lic Policy-- 5000
Compute income tax.
What is treatment of STCG.
Income From Salary-- 120000
Profit on sale of house property(Land)-- 70000 (STCG)
Premium Paid for lic Policy-- 5000
Compute income tax.
What is treatment of STCG.
04 August 2011
Income from salry including
profit on sale of land 190000
Less Deduction u/s 80C 5000
Total Income 185000
Basic exemption 160000
balance income 25000
Tax rate 10% & tax liability Rs.2500/-
profit on sale of land 190000
Less Deduction u/s 80C 5000
Total Income 185000
Basic exemption 160000
balance income 25000
Tax rate 10% & tax liability Rs.2500/-
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