RISHABH ARORA (Company Secretary in Practice ) (194 Points)
04 August 2017Mr X is having
LTCG of Rs. 7,00,000
STCG u/s 111A of Rs. 4,00,000
Other Income of Rs. 84,000
What is the amount of income tax payable by Mr. X?
Please Help Friends
Mr. X is falling under slab of 250000
What is the bifurcation of Basic Exemption limit availabe to Mr. x
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178136 Points)
Replied 04 August 2017
Is long term capital gains is over equity shares? Whether ST paid over its sale?
RISHABH ARORA
(Company Secretary in Practice )
(194 Points)
Replied 04 August 2017
No it is not on equity shares or any other security.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178136 Points)
Replied 04 August 2017
So, long term capital gains after indexation will be charged at 20%.
STCG ( 4.84-2.50 L) = 2,34,000/- will be charged at 15%
Assuming no other income/s.
RISHABH ARORA
(Company Secretary in Practice )
(194 Points)
Replied 04 August 2017
| Originally posted by : Dhirajlal Rambhia | ||
 |
So, long term capital gains after indexation will be charged at 20%. STCG ( 4.84-2.50 L) = 2,34,000/- will be charged at 15% Assuming no other income/s. |
 |
But as per proviso to section 111a
basic exemption to STCG of sec 111a is available only if the total income after reducing such stcg is less than the basic exemption limit
RISHABH ARORA
(Company Secretary in Practice )
(194 Points)
Replied 04 August 2017
and same language is also there in the case of proviso to section 112(LTCG)
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