Renuka H
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Tax on STCG when taxable income is less than 2 lakhs

Renuka H at 03:34 PM - Aug 23, 2015 ( ) Views: 747

3 2

Dear Members,

I am a Senior citizen house wife with no salary income. I do some trading in Stock market. My total income is above 3 lakhs which comprises of Long term and Short term Capital Gain. My Taxable income is only from Short term capital gain which is around 1.5 Lakhs. Remaining income is from Long term Capital Gain. Kindly clarify
1. Whether I have to file Tax return?
2. If Yes, whether I have to Pay Income Tax as Taxable Income is less than 2.5 lakhs.
3. While trying for e-fling using ITR2, system calculates Tax @15% for full STC Gain, irrespective of total Income which is less 2 lakhs.?
4.Last year in similar case Payable Tax was Nil while e-filing as per syatem calculation.

Please helpme with your valuable advice.

With Regards


(1 to 2 out of 2) - Latest Replies on Top | First | << Previous | Next >> | Last |
Hari Das at 11:10 AM - Aug 26, 2015 ( )

Dear Madam,

I also experienced same problem with ITR 2 Exel utility only for STCG in which STT paid. But it is working well under Java Utility. Please try/

Renuka H at 07:26 AM - Aug 24, 2015 ( )

Hope some reply from Tax experts in Mudraa family. I think there will be many to help.

1 to 2 out of 2

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