If a senior Citizen has interrest income which is less than Rs 225000 and long term capital gains. How will his income be assessed.
shailender bali (none) (47 Points)
01 July 2010
If a senior Citizen has interrest income which is less than Rs 225000 and long term capital gains. How will his income be assessed.
DT Fundas - Tarun rustagi
( Author)
(1150 Points)
Replied 01 July 2010
dear friend
i am giving solution based on information provided by you.
225000-(Total income - Ltcg)=if there is positive amount then reduce this amount from ur cap gain income and u will have to pay the tax @ 20% otherwise i mean if there is negative amount then calculate normal tax on interest income as per slab rates and @ 20% on capital gain.
regards
tarun rustagi
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