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.
Sowmya P K
(Chartered Accountant)
(251 Points)
Replied 22 March 2011
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.
Pranita Chawda
(Student)
(107 Points)
Replied 22 March 2011
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..
arizabdul
(accountant)
(64 Points)
Replied 22 March 2011
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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