10 July 2008
I want to know about tax on short term capital gain when excluding the short term capital gain from the net taxable income is below the exemption limit. For example: income from other sources is Rs.50500 & STCG is Rs. 140000/-. and the assesse is individual plz calculate the tax from this example
11 July 2008
Which Short term capital gain is this? Is it 10% STCG?
If it is 10%STCG then, first normal is allowed for Basic Exemption Limit then, STCG SO In ur case, the tax liability is A.Y 2008-09 10% of(190500-110000) =8050
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