U r entitled to take deduction of 80c, 80d, 80e, 80g, 80u etc after merging all income from all sources.

Under section 80C, deduction is available from Gross Total Income only to an individual or a HUF.

As per Sec 111A No deduction is available under section 80C to 80U from the short term capital gain arises on transfer of equity shares or units in equity-oriented funds.

Proviso to Sec 111A gives a relief if the follwing conditions are satisfied:

• The taxpayer is a resident individual or a resident HUF.
• (Taxable income - STCG) < amount of exemption limit {i.e., 160000/190000(women)/240000(senior citizen)}

The folllowing shall be deducted from the STCG

Net taxable Income - Short Term Capital Gain.

Before providing any deduction under chapter VIA gross total income shall be more than minimum exemption limit.

Originally posted by : Akhil Gupta
	Under section 80C, deduction is available from Gross Total Income only to an individual or a HUF.   As per Sec 111A No deduction is available under section 80C to 80U from the short term capital gain arises on transfer of equity shares or units in equity-oriented funds.   Proviso to Sec 111A gives a relief if the follwing conditions are satisfied: The taxpayer is a resident individual or a resident HUF. (Taxable income - STCG) < amount of exemption limit {i.e., 160000/190000(women)/240000(senior citizen)} The folllowing shall be deducted from the STCG Net taxable Income - Short Term Capital Gain.

Yes, If an individual having income from only STCG u/s 111A  then dedection under chapter VIA not alowed.

Income Tax Rates/Slabs for A.Y. (2011-12)

Women aged 65 years or less

Senior Citizens (Individuals aged above 65 years)

Ed.Cess @ 2% and SHEC @ 1% is applicable.

dear friend

section 80 deductions are not allowed for capital gain income.in case of individual u can only claim exemption limit.

regards

tarun rustagi

Originally posted by : Akhil Gupta
	Under section 80C, deduction is available from Gross Total Income only to an individual or a HUF.   As per Sec 111A No deduction is available under section 80C to 80U from the short term capital gain arises on transfer of equity shares or units in equity-oriented funds.   Proviso to Sec 111A gives a relief if the follwing conditions are satisfied: The taxpayer is a resident individual or a resident HUF. (Taxable income - STCG) < amount of exemption limit {i.e., 160000/190000(women)/240000(senior citizen)} The folllowing shall be deducted from the STCG Net taxable Income - Short Term Capital Gain.

ABSOLUTELY

dear folks

I completely agree with mr. Akhil Gupta and would sya that u cannot get any exemption so watever other than the minimum basic exemption limit in case where you are having only Capital Gain income..

Thanks a lot .

deduction under section 80c is not allowed income from capital gaings as per section 111A & 112B