URGENT

Akhil u shud not abuse someone like this. V all r here to share r doubts nd queries. So if u find it worthless and fruitless so don't participate in that thread but don't pass such sort of cheap comments on someone.

Originally posted by : Raj Saxena
	Akhil u shud not abuse someone like this. V all r here to share r doubts nd queries. So if u find it worthless and fruitless so don't participate in that thread but don't pass such sort of cheap comments on someone.

 Good.........

akhil yadav comment is very cheap...CA Club team should scrutinize such comments first & then pass on the portel....otherwise any decent student or member will not posted their queries & replies on this portal.....

Don worry Amit. Aisa hota hai. Keep sharing ur queries. thoughts, etc.

Income From Salary              Rs. 84000/-

Short Term Capital Gain       Rs.75000/-

Gross total Income                Rs.159000/-

Tax on Income                        Rs.900/-

Ed.Cess                                  Rs.27/-

Total Tax(Rounded off)         Rs.930

Read section 111A the relief is availabe

Conditions are.

1.) the taxpayer is a resident individual or OR or NOR

2) Taxable income minus short-term capital gain is less then the amount of exemption limit.(i.e 150000/- is A.Y 2009-10)

if above two condition are satisfied then the amount i.e(Rs.150000) - (159000-75000) will deduct from the short term capital gain. i.e(75000-66000) = 9000

Then the tax liability will be 10%*9000 and it is not 15% clearly stated in sec.111A. 

Dear Amit.............

Dont worry.......You can feel free to ask any query in this club..............dont hesitate........

yes......... above calculations are right

The compuatation show by the friends above are absolutely right.

Football Well kicked by KEEPER- AMIT, Good pass-on by Rachit & Darpan, superb+smart Goal by Bhavin Bhadra, keeper Akhil Yadav being a good keeper on loose. Simple but nice match.

i learnt sec-111A

thanks to all