G Verma (>) (147 Points)
26 July 2023I am trying to file tax through cleartax, below is my capital gain from purchase sale of stocks taken added to cleartax. Shouldnt this also include 1 lakh additional deduction which is the standard deduction. I have long term gain of 12,31,877 and short term loss ( which i booked for tax saving of 2,26,728. But total capital gain is still 10,05,149, should it not have another 1 lakh deduction?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166589 Points)
Replied 26 July 2023
Under Capital gains calculation it will be 10.05 lakhs only.
While calculating tax under special rate the tax liability will be Rs. 90,515/-
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