CA Inter doubt
Answer to Q1 is 5720 Can someone explain how?
Asked by Vrushika12 Dec 2024412 views
6 answers
Balaji · 13 Dec 2024
LTCG u/s 112A 180000 Less:Exemption (100000) 80000 Add:other income 275000 Total income 355000 Less:basic Exemption (300000) Bal. 55000 (Ltcg@10%). 5500 Add: 4% cess. 220 Tax due 5720
Vrushika · 13 Dec 2024
Yes..
Aleena · 13 Dec 2024
Between 60 nd 80 3L is limit
Aleena · 13 Dec 2024
Age is above 60
Vrushika · 13 Dec 2024
He's not opted for 115 BAC So how it's 3L
Aleena · 12 Dec 2024
Exemption limit is 3lakh Here, total income is less than the limit excluding LTCG ,ie, 2.75L Then an amt of 25000 is taken from LTCG Remaining balance in LTCG u/s 112a is 1.8L-30000= 1.55L Which is to be taxed at 10% in excess of 1L
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