Simple but confusing

Tax queries 854 views 17 replies

A combined reading of Sec 80A and Sec 112(2) shows that LTCG is not a part of Gross Total Income for the purpose of Chapter VIA. 

As per Sec 80A  Deduction is to be made against gross total income.. which includes ur income from 5 head's  inclusive of capital gain. so i thnk deduction should be allowed against the LTCG

plz coorect my if wrrong..

ok fine,

So LTCG is not a real income and it will not form part of the GTA."Sec 80A and Sec 112(2)"

Thanks a lot Sowmya P K and U S Sharma.

Sharma sir explained practically with logic and Sowmya madam explained in legal terms ,

Thank you ........


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