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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 May 2010 Friends can any one tell me

If longterm capital gain 100000 RS to an assessee should i need to calculate tax at 20% or not .

whether the concept of tax relief till 160000 rs will reflect or not

Aditya Maheshwari

Aditya Maheshwari (Expert)
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28 May 2010 LTCG on sale of shares on which STT is paid is exempt u/s 10(38).

In case of other sale tax payable @ 20%.

If total income including LTCG does not exceed basic exemption then tax not payable.