S
sshanbhag_2000
Guest
If I have have an taxable income of Rs 990000 for the FY and my Short terms capital gains (from sale of mutual funds) is Rs. 11000 /-
Will have to calculate tax after adding the amount of Rs 11000 /-
In other words do I pay surcharge for income over 10 lakhs.
the general understanding is we pay 10% applicable for STCG MFs sale (separately) and balance Income tax is calculated as per the reckoner for the other income of Rs.9.9 lakhs
would request the answer be substantiated with link of relevant act.
In case surcharge is to be paid how does the stcg tax of 10 % apply
Will have to calculate tax after adding the amount of Rs 11000 /-
In other words do I pay surcharge for income over 10 lakhs.
the general understanding is we pay 10% applicable for STCG MFs sale (separately) and balance Income tax is calculated as per the reckoner for the other income of Rs.9.9 lakhs
would request the answer be substantiated with link of relevant act.
In case surcharge is to be paid how does the stcg tax of 10 % apply