if i have only capital gain less then examption limit and greter the, that will be taxlibilty
Angad kr kannaujiya (Studant) (169 Points)
15 January 2011if i have only capital gain less then examption limit and greter the, that will be taxlibilty
K Rajendra Prasad
(CA)
(133 Points)
Replied 15 January 2011
Please correct your question. It is not clear.
1. If your other income is less than the capital gain , only balance i.e. capital gain over and above the baisc exemption limit is taxable.
2. 80C can not be deducted from Long Term Capital Gain.
3. See this link.
CA Mohit Thareja
(Assistant Manager-Accounts & Finance)
(1117 Points)
Replied 15 January 2011
| Originally posted by : K Rajendra Prasad | ||
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Please correct your question. It is not clear. 1. If your other income is less than the capital gain , only balance i.e. capital gain over and above the baisc exemption limit is taxable. 2. 80C can not be deducted from Long Term Capital Gain. 3. See this link. /forum/long-term-capital-gain-query-47821.asp |
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agree.
and pls clear the question.........
Vinod
(Manager Accounts)
(21 Points)
Replied 15 January 2011
DEAR SIR
1) PLS PROVIDE ME THE DETAIL REBATE U/S 88 FROM THE FY 1985-86 TO 2005- 06 FULL DETAILS
2) STANDRED DEDUCTION U/S 16 FROM THE SAME YEARS ALSO
3) TAX SLAB RATE ALSO THE SAME YEAR DETAILED
4) RELIEF U/S 89(1) BUT TYPE OF SOFTWARE USED
PLS PROVIDE AS URGENT AND IMPT.
THANKS
VINOD VERMA
NARENDER PAWAR
(CA final Student)
(337 Points)
Replied 20 January 2011
your question is not clear, but i think u should want to knew the examption limit is allowed in case of capital gains, yes it is allowed
Angad kr kannaujiya
(Studant)
(169 Points)
Replied 20 January 2011
for exm - i got rs 50000/- as capital gain and there is no other income
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