Capital gain vs basic exemption limit

Gokul (Article assistant) (29 Points)

23 June 2014

Dear All,

Pls let me know whether basic exemption limit can be claimed against CG @ 20% slab.

consider there is no other income for the period.

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2 Replies

Siddharth (Article Assistant) (111 Points)
Replied 23 June 2014

yes you can claim

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ROSHAN PAUL JOSEPH (CA Final student) (311 Points)
Replied 23 June 2014

Agree with Sidharth. To have better understanding I would like to explain as follows :

any such other income of urs will reduce the basic exemption limit

for eg :

IOS : 15,000

CG : 250,000

basic exemption limit : 200,000

then your taxable CG will be 250000 - ( 200,000 -15,000)

= 65,000

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