Taxability of STCG when the total income falls below the non-taxable limit
This query is : Resolved
16 April 2022
I have an STCG of Rs.16,000 from the sale of listed shares. However, my total income from all sources is Rs.1,40,000 which falls below the non-taxable limit of Rs.2,50,000. Whether I am liable to pay a tax of Rs.2,400 @15% on the STCG of Rs.16,000 or my tax liability is NIL due to my total income falling below the non-taxable limit?
16 April 2022
Your tax liability is NIL due to your total income falling below the non-taxable limit.
16 April 2022
No you are not liable to pay any tax.
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