If there is loss in Properiteorship firm but properiteor has Long Term Capital Gain. Is standard deduction & deduction under 80c, 80d allowed or not ?
Menu
Long term capital gain>>standard deduction allowed or not
Replies (4)
Yes , it is allowed
Sir as per inputs I have recieved no deduction u/s 80c to 80u are allowed from LTCG only standard deduction is allowed. Could you please cross check ?
No deduction fomr sections 80C-80U is allowable from LTCG as there are other sections such as 54EC, 54, 54F to claim exemption from LTCG.
Any expenditure incurred in connection to the transfer of LTCG is allowable as deduction from the sale consideration.
No,
Deductions(80C-80U) are allowed from normal income..
Recent Threads
- Planning of Ceased a Business i.e Closure of Compa
- Property value in 26QB
- Form 26QB Multiple Buyer/Multiple seller
- Company Formation for clothing business
- TDS on purchase 194Q
- Compensation for urban land acquisition
- Understanding section 269st
- CASH AS GIFT OR FD AS GIFT
- NPS Pre Maturity full exit taxation rules
- Planning to ceased a Business
Related Threads
CAclubindia
