TAXABILITY OF INCOME

This query is : Resolved

PRADEEP PAL (Querist)
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20 May 2011 IF A PERSONS EARNS CAPITAL GAIN
(WHETHER SHORT TERM AND/OR LONG TERM)

AND

HIS/HER INCOME IS BELOW TAXABLE LIMIT (INCLUDING ABOVE SAID CAPITAL GAIN) AFTER CLAIMING DEDUCTION U/S. 80C TO 80U

THEN

WHETHER HIS/HER INCOME WILL BE TAXABLE OR NOT

IF YES

THEN HOW TO COMPUTE TAX LIABILITY

PLEASE CLARIFY WITH AN EXAMPLE

THANKS IN ADVANCE

U S Sharma

U S Sharma (Expert)
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20 May 2011 calculate the natural income ( except capital gain)

deduct chapter VIA / 80C to 80U

add capital gain

if the product is below threshold limit, then no tax, otherwise taxable

file to return to establish your claim.

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