If a senior Citizen has interrest income which is less than Rs 225000 and long term capital gains. How will his income be assessed.
1 Replies
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
Recent Topics
Related Threads
CAclubindia
