Assume I have total income of 12 lakhs p.a. This includes 7 lakhs from pension and fd interest. And 5 lakhs from STCG from sale of equity. So tax on 5 lakhs will be @ 20%. What will be the tax rate on 7 lakhs ? Will it be 15% considering total income of 12 lakhs or 5% considering 7 lakhs only ?
CAclubindia
