Stcg to be taken in basic exemption limit

This query is : Resolved

RAVI SONI (Querist)
Follow

25 March 2013 If an assessee has only STCG income on shares of Rs.150000/- for the F. Y. 2012-2013 then is it taxable or not.

Whether this income will be considered under basic exemption limit or not.

Under which section it is mentioned that such basic exemption will be available to an assessee.

CA Mahavir Shah

CA Mahavir Shah (Expert)
Follow

26 March 2013 Yes STCG can be considered in Basic exemption limit.
So as per your case as you don't have any other income you can claim it within basic exemption limit.