hi
my question is
my salary income in fy 2013-14 is Rs. 170000 & i got profit on equity share interday trading is Rs. 40000.
so i liable to pay tax
kindly reply quikly
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Short term capital gain
Replies (10)
NO U WILL NOT LIBLE TO PAY TAX.....
MORE CLEARANCE READ SECTION 87A of it act.....
No tax payable on salary. Tax payable at special rate 15% +cess for STCG.
no need to pay tax because of rebate u/s 87 A
(assuming that figures you have given is on actual basis)
Pls be specific taxable or not...also reason in both the cases
no tax.
total income is 2.1L
tax=10000*15%=1500 (STCG STT)
rebate u/s 87A= maximum 2000 or tax which ever is less =>rebate= 1500,
hence tax = NIL
as clear by jagdish.....
no tax.....
There will no tax liability as per section no. 87 A you get rebate of 2000 rs.
87A overrides 111A. one will get benefit of section 87A on the income of special rate of tax
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