Articles
Articles from RaagVamdatt.com published in Dignity Dialogue
Select articles from RaagVamdatt.com are now being published in Dignity Dialogue, a publication from the NGO Dignity Foundation.
- Transparency in floating interest rate home loans – Customers to know changes in reference rate instantly
- 7 factors you should consider before buying a second house
- Interest rates are bottoming out – Want to take a loan? The right time is now!
- Blessed with a son – Rishi Vamdatt
- RaagVamdatt.com is up and running again
- Highlights of the draft “New Direct Tax Code”
- Securities Transaction Tax (STT) not removed in budget 2009 – Good or bad for you?
- Can’t find an ATM? Withdraw cash from a POS terminal using your debit card
- Income tax filing season is over – Now play this “Split Stocks” game online and relax!
- Shopping online using a credit or debit card: Verified by Visa / MasterCard mandatory from 1st Aug 2009
- Tax on gifts (Gift tax): When to pay, how much to pay and what is exempt
- RaagVamdatt.com launches mobile enabled site – Now, view the website on you cell phone
- Income Tax (IT) and death of a person – Responsibilities of legal heirs
Related links from the web (Sponsored):
Articles by Category:
- Gold
- Income Tax - IT
- India for NRIs and Non Indians
- Insurance
- Investment Philosophy and Planning
- Loans
- Mutual Funds - MF
- News and Developments
- Others and Miscellaneous
- Real Estate
- Stocks - Shares - Equities
Note: Please treat the opinion expressed here as a broad suggestion. Please consult your financial planner / investment advisor before making any investment decision.
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the amount deducted as indexation cost from LTCG is the amount which will be taxable @ 20% and STCG will be computed @ 30%.however u can claim deduction for the losses suffered by u.there are various avenues thru which u can avoid paying LTCG tax by investing in the avenues given under section 80C.
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I have the following querie on income tax computation. I was under the impression that I do not have a tax liability, but recently I got a doubt.
I have the following income details for FY 2009-10.
Income from House Property: 17855 (net of broght forward loss from HP of 34427)
Income from Business/Profession (Brokerage): 11569
Income from Caiptal Gain: 108478
(Detailed breakup:
Long Term Cap Gain indexed: 350447,
Short Term Cap Gain: 511498
Short Term Cap Loss: 745191
Brought Forward Loss: 8276
)
Income from other sources (bank Interest): 13632
Gross Total Income: 151534
Deductions allowed(chapter VI 80C):81100
Net Income: 70434
I was under the impression that as the net income was below the exempt limit of 160000, no tax liability would arise. However, I heard on a business news channel that 80C deduction and 160K exemption is not applicable in case of income from Capital Gains. Please guide whether I have a tax liability and how I should calculate it.
Thanks & Regards,
Anil Kumar