Capital Gain Tax For 2009
March 30th, 2010
Question: Tax liability applicability on salary income and short term capital gain?
I was employed part of the year 2009-10 and got about Rs.1.4 lac as salary and I was deducted about Rs.18000 tax and deposited by employer. During 2009-10, I made profit of about Rs. 3 lacs as short-term capital gain (equity/stock). How much is tax liable from both part employment and CapGain and which challan/bank to use for paying tax before 15th Mar-2010. I am also paying home loan EMI.
Thanks
Answer: On your salary Tax liability is NIL ( because it is less than 160000.00 per annum)
On STCG Tax is 15% of Rs 300000.00
Iyour EMI interest portion is deductible and principle portion is deductible only upto Rs 100000 along with others savings like PPF, GPF or NSCs etc. from your salary income.
but no deductions are allowed from STCG, challan form 280
A fix with sales tax doesn’t last forever
Grand Island, a regional shopping draw, turned to the sales tax in the 1980s as a financial fix for the city coffers.
Capital Gains Tax Instructions on Stocks for 2009, 2010
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