Computation of Tax Liability on LTCG

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  1. NITHIN K

    NITHIN K New Member

    An individual has a long term capital gain of Rs : 150000. His total income comes to Rs :200000. Does he have to pay any Tax Liability?

    Whether Tax has to be paid even if the income of the assesse comes under the slab rate?
     
  2. I don't Think he has to pay the tax as total income taxable is covered under the basic exemption limit.
     
  3. gaurav_kumar

    gaurav_kumar Well-Known Member

    The total income is above the tax exemption and therefore tax may be applicable in this case.
     
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