Sir please help me, my client Short term capital gain for 2009-2010 F.Y. (STT PAID) is22546/- and speculation income is 2000 what will be short term capital gain will be paid in ITR for the said financial year pls guide me
5 Replies
Divya K S
(CA)
(289 Points)
Replied 20 December 2010
Income under the head capital gains will be Rs. 22546 & under speculation business it will be Rs. 2000. If there is no other income apart from these, then no tax liability arises since the basic exemption limit is not crossed.
Sunshine
(Helping All)
(10575 Points)
Replied 20 December 2010
agree with Divya...if there is no other income then no tax liability but in case there are other incomes also and it exceeds the exemption limit..then generally Short term capital gain will be taxed @ 15% u/s 111A..
Nabeel
(CA)
(3288 Points)
Replied 21 December 2010
| Originally posted by : Sneha.... sunshine | ||
 |
agree with Divya...if there is no other income then no tax liability but in case there are other incomes also and it exceeds the exemption limit..then generally Short term capital gain will be taxed @ 15% u/s 111A.. |
 |
i agree....
Recent Topics
- Rectification to decrease income in SCHEDULE OS
- Can Statutory Auditor of a subsidiary become concu
- Client Asking for the Revised Invoice
- Share office desk in bkc, near family court
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
Related Threads
CAclubindia
