Today news
About the same in other media
YOUR QUERIES: INCOME TAX: You can adjust basic exemption limit against LTCG/ STCG
Reading now: 114
By Chirag Nangia
I am a B.Tech student and earn up to Rs 2 lakh from tuition and have some LTCG and STCG. Which ITR form is to be filed? My income is less than Rs 2.5 lakh. Will I pay tax on STCG if my LTCG is less than Rs 1 lakh?—Nakul Dhal Indian tax laws mandate individuals to necessarily furnish return of income only when their gross total income in a financial year exceeds the basic exemption limit. The exemption limit for FY 2020-21 for an individual of below 60 years of age is Rs 2.5 lakh. We assume that Long Term Capital Gains (LTCG)/ Short Term Capital Gains (STCG) have arisen on sale of shares held as investment.
Any LTCG on transfer of listed shares, held for a period more than one year are taxed at a flat rate of 10%, if such
Read more on financialexpress.comAbout this in other media
Bank of Canada’s Governor hits out at ‘not a digital currency’ Bitcoin ambcrypto.com /3 years ago
Incoming NY mayor wants crypto taught in schools cointelegraph.com /3 years ago
How you can benefit from group insurance as an employer financialexpress.com /3 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
