Tax on LTCG

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28 October 2009 Suppose an individual has LTCG ON sale of shares of rs. 140000. He has deductions available of rs 5000. Dividend recd of rs. 700000. Whether he can claim the benefit of slab rate .( A.Y. 2009-10).

Plz calculate the tax liab.

CA Balram Sharma

CA Balram Sharma (Expert)
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28 October 2009 HI SHIVANI TELL IN DETAIL,
BECAUSE THE LTCG ON SHARE IS EXEMPTED FORM TAX UNDER SECTION 10(38) AND FOR DIVIDEND INCOME ALSO EXEMPTED FROM THE TAX,
HENCE NO QUESTION WILL BE ARISE FOR THE BENIFIT OF SLAB.

TELL THE UR CASE IN DETAIL,

YOU MAY DIRECT MAIL ME

balramsharmaca@gmail.com

CA JAIMIN TRIVEDI

CA JAIMIN TRIVEDI (Expert)
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28 October 2009 I agree with Mr Balram. LTCG on shares is exempt if the transactions are made on a recognised stock echange and the stt is paid on it.

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28 October 2009 the assessee is a non resident & he sells shares of a private company