Udgam Koomar (Tax Technologist) (1949 Points)
18 July 2012Regards incometax, I have few questions:
(a) I have a salaied income of 26Lacs. Do I have to pay wealth Tax? How is it paid and where to pay. Do I have to include this tax in the ITR returns, if yes, which column?
(b) In ITR2, where is the income from LTCG from Debenture and STCG from Liquid MF included. Are they added to the regular income or taxed at special rate i.e. 20%
J.Eswara Reddy
(Article assistent)
(21 Points)
Replied 18 July 2012
if the total assets(i.e fixed assetss) of assessee exceeds 30lacs , wealth tax @ 1% of assets is payable and LTCG are seperately taxable @ 20% ,STCG are seperately taxable @ 15%
salary income is taxble under incomtax act 1961
Udgam Koomar
(Tax Technologist)
(1949 Points)
Replied 20 July 2012
Im still not clear, please tell if LT Capital Gains from Equity MF (Not shares) is taxable at 20% like Birla Sunlife TaxSaver. Franklin PrimaGrowth.
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