I have 2laks salary income, 10k FD interest (1000 TDS) and I have earned 11+ k profit on shares ( Short term CG). Now I am below the slab. I have to pay tax on STCG/ can I claim TDS amount on FD interest. Pls guide me.
2 Replies
pinky agarwal
(student)
(137 Points)
Replied 04 September 2018
No, you don't have to pay tax.
the basic exemption limit of rs. 250000 will apply first the total income of rs. 210000 that is other than capital gains. than the balance of basic limit of rs. 40000 will be applicable for stcg.
the basic exemption limit of rs. 250000 will apply first the total income of rs. 210000 that is other than capital gains. than the balance of basic limit of rs. 40000 will be applicable for stcg.
nikhil
(ca)
(221 Points)
Replied 05 September 2018
yes, if u r resident then u don't have to pay tax. Please note chapter ViA deduction can't be availed against short term capital gain i.e in ur case Tds on interest but as u r below the basic exemption limit u don't have to worry about such provision.
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