**Note: 1. Deductions u/s 80C-80U will be allowed in case of STCG (Except those given u/s 111A) 2. Rebate u/s 87A will b allowed for STCG (All types of STCG) and LTCG u/s 112 (Not for LTCG u/s 112A)
Hullo Sameerji. I am an NRI. Canadian citizen. My father sold his house to builder in 2016 for redevelopment. House was bought by my father in mid 80's. Possession of the house delayed since the first builder ran away. Second builder took over and got NOC and old owners moved into their allotted house. The top floors for the new buyers still under construction. We got possession in Feb 2023. My father died in 2019. His will says 5 shares. Son, and 2 daughters 1 share each and one sister gets 2 shares who bought this house. Now what is the capital gain scenario? Another problem I don't have any bank a/cs in India. So how my sister can pay my share?
If one senior citizen aged 62 years having pension income, savings bank interest income, bank deposit interest income, dividend income from mutual fund and listed equity shares, long term capital gain exceeding one lakh Rupees from listed equity shares and gross total income below fifty lakh Rupees what ITR form to be used for filing income tax return for FY 2021-2022 and AY 2022-2023?
I was bequeathed a property (a flat) based on probate obtained on a will in Dec 2018. Subsequently, I have sold the property in Nov 2022. Since the property has been bequeathed to me, what will be the year taken the yr of acquisition for indexing purposes ?
Thank you for the appreciation Sir 🙂...Yes .. exemption of 1 lac is also applicable for the A.Y. 2022-23. Pls don't forget to Subscribe & Share the channel..!
Sir ek chotisi query hai -- kaunase kharche shares se huye profit se minus ho sakate hai. e.g. 1) Naya TV set 2) Dish Tv subscription 3) Electriciti Bill 4) Room/ office rent 5) Naya Laptop /Computer set, 6)internet charges 7) Bank brokerage on transactions 8) share market educational course fees 9)New mobile. etc. Sir STCL & LTCL Kaise minus karate muze malum hai.
Since only those expenses can b claimed as a deduction which are wholly and exclusively incurred on sales. Aap Brokerage charges claim kr skte hai as a deduction from capital gain on share transaction.
@@SameerPandey what about expenses Occurred for carrying business in share market. One can not does activities in equity market 1) TV 2) LAPTOP 3) MOBIL 4)Internet 5)electricity etc
@@SameerPandey yes pandey jj,10 sal se koshish jari hai. Technical, fundamental, ka koi khaas knoledge nahi.2 cr ka portfolio hai.adhese jyada profit hi hai. Sir aapane mera jawab diya hi nahi. Kya ye hum business head banake ITR 2 file kar sakate hai kya ? Aur 1) internet charges 2) electricity charges 3) share market educational fees 4) New Lapto / TV set 5 ) C/F LTCL minus kar sakate hai kya ? Aur kaunase kharche profit se minus kar sakate hai ?
Thanks, it is very informative. But I have a query; you have rightly mentioned there is an exemption upto 1 lakh on LTCG. Is it available after setting of previous years' losses. Eg: Total LTCG 250000, carried forward LTCL151000, balance LTCG 99000/-, Does this come under exemption?
There is no fix Rule for but...if you have both LTCG & LTCL u/s 112A, then first adjust the loss with gain and find Net LTCG and after that apply the exemption limit But if loss and gain are in different sources like STCL u/s 111A and LTCG u/s 112A then first apply the exemption limit of 1lakh and after that adjust the loss.
@@SameerPandey Thanks for your reply. I was not referring to the Gain or loss of current assessment year, but I was referring to carried forward loss set off against current year's gain. My question was whether 1 lakh exemption is allowed after such setting off(adjustment).Thanks and regards.
It will be taxed @20% with indexation if it's a Long term capital asset And if it's short term then add the capital gain in your normal income and charge tax as per your IT slab
Very nicely explained, suoerb. Justwant to confirm, those people do intraday trading in share market, are they come under short term capital gain. (2) Rs.100,000 is exumpted in long tern capital, is there any exumption in short term or if we earn Rs.1/ through stcg, we have to pay 15%0tax on Rs..1.
Thanks Sir..! Intraday profits are not treated as capital gains...they are Speculative Business Income and hence comes under the head 'Profits and gains of business or profession' And there is no exemption in case of STCG but you can adjust it with exemption limit and can also claim rebate u/s 87A
What if there is only STCG and that too only Rs 10000 by listed shares Wheather need to pay tax and which ITR need to file, What about deduction and exemption allowed in above case
No need to pay tax on it as your Total income (i.e., 10000) is less then the exemption limit. It will be adjusted against the exemption limit. You should file ITR 2. For more info you can watch this video th-cam.com/video/BlZoniUhJpo/w-d-xo.html
And for deduction and exemption, just check the description of the video where you will find the link of exemption videos.. It covers detailed description of all types of exemption.
Sir tax in pension will be calculated as per normal senior citizen...it will be charged under the head Salaries. Capital gain will also be taxed as per normal procedure. But I would recommend you to get an expert advice from a practicing CA as well.
Thank you so much!!! Based on your vedio i understand STCG & LTCG tax is flat rate not based on our income tax slab rate. But my doubt is STCG & LTCG tax is flat rate and irrespective of slab rate so, if my annual income is total 2.5 including STCG & LTCG so in this case do i need to pay flat tax for STCG & LTCG or no need to pay any tax?
You may need to pay tax on your stcg/ltcg depending on the type of your capital asset..you can watch this video for details th-cam.com/video/dS5cX8QPdCw/w-d-xo.html
My wife is british citizen. She was working in india for 10 year. She inherited a house in UK from her uncle. But her brother and mother were the executor. Who paid the taxes to UK government on the sale of the house in uk.. after that her brother transfered her money to her UK account. As we were in lockdown we transfered some money from her own uk account and to her india account. Does she liable to capital gain taxes.? Please assist she was summoned under section 131 1a. Please assist sir.
I am a salaried person. My taxable income from salary after calculating all the Deductions is 4.99 lakh. And I also have a LTCG of 95k. But while filing itr2, I found that I have to pay 14k tax. Why? LTCG should have been extempted.
I have the same question...my total income is less than 5 lakhs excluding short term capital gains taxable @15%....will I get rebate under Sec 87A ? There is no provision to apply for the same in ITR2 and tax is calculated based on Total Income i.e. 5% till 5 Lakhs and 15% for STCG under section 111A....Please clarify
Hi sir, I am a salaried employee and I also have capital gains(short term).Before joining my company i used to do freelancing for chegg so it is reflecting as technical service (u/s 194j) but very small amount. I am bit confused about this. Can i fill itr 2 and shows technical service in other income ?
Thank you sir for your invaluable guidance. I've done btech in chemical engineering and I have zero knowledge of accounts and commerce. Could you please guide me which online course should I pursue?
For basic understanding of commerce subjects you can refer to my videos..but if you want any specific subject and course then tell me.. I'll see if I can suggest you some good online courses.
Thanks a lot sir very nicely explained. My salary income is 10 lac and LTCG is 50000. In my itr 2 i include LTCG in my total income or not please clear it...
Suppose if there is a loss on Listed NCD e. G.DHFL. invested amount 1 lakh and recd fof as 40000 so loss of 60000.... Can such losses be adjusted against long term capital gains.? Pl advise
Sir, please please please..tell me how to solve this problem question:- he had share of face value of 250000 of a limited company which were purchased for 259000 in may 2012. He sold them for 905000 on 30-9-2021 and also paid brokerage at 1% on the face value of share.p
I am NRI my Ti is 2.45 in which stcg is 35870 and LTSG is 147,399 total capital gain is 1.83 approx. Since there is exemption of income tax limit is 2.50 lacs so no tax liability must be there but Income tax department imposed tax @ 15% on Stcg and @10% on long term. Is this right? Tax exemption limit is 2.50 Lac
Sir Capital gains are taxed separately at special Tax Rates. However you could have adjusted your exemption limit with capital gains if you were a Resident. In case of NRI no adjustment is available. Further you are also not eligible for Rebate u/s 87A being a NRI. So you will have to pay tax on your capital gains.
You can watch these videos for more clarity: Rebate u/s 87A th-cam.com/video/dS5cX8QPdCw/w-d-xo.html Tax Liability on LTCG th-cam.com/video/GksHEyqAGTg/w-d-xo.html
Sir ji namaskar 🙏 Sir mai ek student mera other income 0 hai Equity me short term capital gains se kitna income hone tak Tex pay nhi karna hai plz reply sir 🙏
Hi sir, My source of income is positional equity delivery trading and my total profit is Rs. 20,000/- dividend, Rs. 2,44,000/- LTCG and Rs. 54,000/- is STCG. What will be my tax liabilities?
Am a senior citizen invested in Shares and MF, apart from income from PMVVY, SCSS, etc. Find it very overwhelming to comply with ITR, especially listing of Capital Gains ISIN wise and Quarterly for details, due to a large number of small transactions. Any way out ? Have been filing ITR2 myself and no audit is required in my case. Only cash equity on delivery basis and also no FnO in my case. Any solution or tip to reduce paperwork and compliance hardships?
My tax is zero after showing my savings and all other things but at the same time I have short term capital gain then I need to pay only 15% or 12500 rebate vala b pay Krna padega?
@@SameerPandey let me explain more elaborately Say after saving and dedication my income is 4.5 lakh (here is zero tax now) but at the same time i hav stcg under 111a is 2.5 lakh . Now 15% on 2 lakh only or 5% on 2 lakh(4.5-2.5) + 15% on 2.5(stcg)
See if your total income (excluding Stcg) is less than the exemption limit (2.5L) then you can adjust the balance of exemption with stcg. In your case your normal income is 2L and STCG is 2.5 L Your normal is less than exemption limit by 50k (2.5L-2L) Now you can adjust this 50k with Stcg ...2.5L-50k = 2L So on 2L stcg you have to pay tax @15% and on normal income.. tax is Nil coz it is less than exemption limit. You total tax would be 15% on 2L= 30k ...Also you can claim rebate of 12500 u/s 87A coz your total income (4.5L) is less than 5L Final Tax would be 30k-12500 = 17500 + 4% H&EC
Sir, My total income is Rs 614137/-.Deduction and exemption is Rs 117215/-. Net taxable income Rs 496922/- and LTCG is Rs 62596/-. I have paid income tax Rs 12842/- through agent. Sir is it correct or not?
Good evening. In last financial year I sold a plot and the full amount of this invested in a flat. Further I redeemed some mutual funds and invested the full amount of this also in above flat. I want to know whether I can claim the exemption u/s54f for both sale consideration. Pl guide. Regards
Yes Sir you can claim for exemption from two different assets subject to the condition which i have discussed in the video..and most importantly the cost of your new residential house must be greater than or equal to the Total Net consideration (from both the assests), only then you will get full capital gain exemption otherwise you'll get proportional exemption. Hope I've resolved your query Sir.
I have only income from capital gain(STCG +LTCG = 500000) and I have home loan (interest paid 150000). Lic + school fees paid 140000. How much is my income tax?
Sir ji namaste.mai senior citizen hun. Mera income and loss sirf share market se hota hai.Fd, Bank Intrest,Company Duvidend,aur house rent income bhi hota hai. Mera sawal.... kya muze 2.5 lac ya 3 lacs ki basic exemption milati hai ya allow nahi hoti.? Aur kya mere carry forward losses bhi mai LTCG,/ STCG profit se minus kar sakata hun? Pls exain.
Namste sir, me 20% slab me aata hu.. Maine 79000 income tax paid Kiya he for 21-22, Mera long turm mutual fund profit 93000 he.. to muje our tax bharana padega? Ya nahi.. plz reply
Sir Pls clarify if i am having LTCG of 2.5 Lakh out of which 1 Lakh is exempt is the remaining 1.5 Lakh taxable, even if i don't have any other income . As the total taxable slab is 2.5 lakh & 3 lakh for Sr. Citizens
Ma'am you can watch this video th-cam.com/video/YgdcQi0UVdI/w-d-xo.html I have explained in detail on how to claim exemption on capital gain on sale of agriculture land.
Hindi Title Happy morning. A feedback for your consideration: If you are making the video in Hindi why are you making the title in English instead of Hindi. Owing to the title language, non-hindi investors are logging in and coming out disappointed leading to waste of time. If you wish to reach more investors through English title, you may mention - HINDI after the title. Trust, you will consider this aspect while creating title for your future videos and save our precious time
Apke shop ki indexed cost of acquisition hogi 200000x317/109 = 581651 Net consideration hai 40lakh LTCG = 34,18,349 Ispr 20% ka tax applicable hoga... Rs.6,83,670
**Note:
1. Deductions u/s 80C-80U will be allowed in case of STCG (Except those given u/s 111A)
2. Rebate u/s 87A will b allowed for STCG (All types of STCG) and LTCG u/s 112 (Not for LTCG u/s 112A)
Thanku so much sir for such brilliant explanation. Love your content.
Most Welcome 🙂
Very nice vedio
Thank you 🙂
Very well explained🙏👍
Thank You 🙂
Nicely explained
Thank You 🙂
Rebate u/s 87 A is applicable in section 111 A but not in section 112 A. Please check .
Thanks for mentioning 👍
Right
Thanks for teaching
Welcome 🙂
very helpful
Thank You 🙂
Awesome Inc
Thank you 🙂
Awesome
Thank you 🙂
Pls do subscribe and share it with your friends also.
AIS has mention of only few shares traded , it says value can be corrected but what for many trades not reflected in AIS.
Submit a feedback in AIS regarding trades not reflected in AIS.
Thank you so much I was searching for this video only
Welcome..!
Don't forget to Subscribe and share the channel 🙂
Well explaine about stcg and ltcg. Thanks a lot sir
Most welcome 🙂
Sir it will help full if u make video of u|s 112 and 112A
I have covered these section in detail in further videos.. pls check
Hullo Sameerji. I am an NRI. Canadian citizen. My father sold his house to builder in 2016 for redevelopment. House was bought by my father in mid 80's. Possession of the house delayed since the first builder ran away. Second builder took over and got NOC and old owners moved into their allotted house. The top floors for the new buyers still under construction. We got possession in Feb 2023. My father died in 2019. His will says 5 shares. Son, and 2 daughters 1 share each and one sister gets 2 shares who bought this house. Now what is the capital gain scenario? Another problem I don't have any bank a/cs in India. So how my sister can pay my share?
I would suggest you to consult a Chartered Accountant as he/she would be able to give you a better advice based on your case.
If one senior citizen aged 62 years having pension income, savings bank interest income, bank deposit interest income, dividend income from mutual fund and listed equity shares, long term capital gain exceeding one lakh Rupees from listed equity shares and gross total income below fifty lakh Rupees what ITR form to be used for filing income tax return for FY 2021-2022 and AY 2022-2023?
ITR 2
@@SameerPandey Sir, thanks for your reply!
Welcome 👍 Pls don't forget to like and share the video.
I was bequeathed a property (a flat) based on probate obtained on a will in Dec 2018.
Subsequently, I have sold the property in Nov 2022.
Since the property has been bequeathed to me, what will be the year taken the yr of acquisition for indexing purposes ?
Sir this exemption of Rs.1 lacs in case LTCG is applicable in AY 2022-23. Well explained by you and near about clearing all my doubts. Regards.
Thank you for the appreciation Sir 🙂...Yes .. exemption of 1 lac is also applicable for the A.Y. 2022-23.
Pls don't forget to Subscribe & Share the channel..!
Sir ek chotisi query hai -- kaunase kharche shares se huye profit se minus ho sakate hai. e.g. 1) Naya TV set 2) Dish Tv subscription 3) Electriciti Bill 4) Room/ office rent 5) Naya Laptop /Computer set, 6)internet charges 7) Bank brokerage on transactions 8) share market educational course fees 9)New mobile. etc.
Sir STCL & LTCL Kaise minus karate muze malum hai.
Since only those expenses can b claimed as a deduction which are wholly and exclusively incurred on sales.
Aap Brokerage charges claim kr skte hai as a deduction from capital gain on share transaction.
@@SameerPandey what about expenses Occurred for carrying business in share market. One can not does activities in equity market 1) TV 2) LAPTOP 3) MOBIL 4)Internet 5)electricity etc
Are you into the business of stock trading?
@@SameerPandey yes pandey jj,10 sal se koshish jari hai. Technical, fundamental, ka koi khaas knoledge nahi.2 cr ka portfolio hai.adhese jyada profit hi hai. Sir aapane mera jawab diya hi nahi. Kya ye hum business head banake ITR 2 file kar sakate hai kya ? Aur 1) internet charges 2) electricity charges 3) share market educational fees 4) New Lapto / TV set 5 ) C/F LTCL minus kar sakate hai kya ? Aur kaunase kharche profit se minus kar sakate hai ?
@@SameerPandeysir ji namaste. mai investor hun aur delivery basis par kaam karta hun.
Superb explanation. I want to do some distance learning Course on taxation. Can you suggest something.
Thank you sir🙇♂️
You want course for B.com, CA or any other exam?
Thanks, it is very informative. But I have a query; you have rightly mentioned there is an exemption upto 1 lakh on LTCG. Is it available after setting of previous years' losses. Eg: Total LTCG 250000, carried forward LTCL151000, balance LTCG 99000/-, Does this come under exemption?
There is no fix Rule for but...if you have both LTCG & LTCL u/s 112A, then first adjust the loss with gain and find Net LTCG and after that apply the exemption limit
But if loss and gain are in different sources like STCL u/s 111A and LTCG u/s 112A then first apply the exemption limit of 1lakh and after that adjust the loss.
@@SameerPandey Thanks for your reply. I was not referring to the Gain or loss of current assessment year, but I was referring to carried forward loss set off against current year's gain. My question was whether 1 lakh exemption is allowed after such setting off(adjustment).Thanks and regards.
Sir 1st set off the carry forward loss and then claim the exemption of 1 lakh.
@@SameerPandey Thanks a lot🙏
Pl. Explain the lT C G on sale of property
It will be taxed @20% with indexation if it's a Long term capital asset
And if it's short term then add the capital gain in your normal income and charge tax as per your IT slab
Very nicely explained, suoerb. Justwant to confirm, those people do intraday trading in share market, are they come under short term capital gain. (2) Rs.100,000 is exumpted in long tern capital, is there any exumption in short term or if we earn Rs.1/ through stcg, we have to pay 15%0tax on Rs..1.
Thanks Sir..!
Intraday profits are not treated as capital gains...they are Speculative Business Income and hence comes under the head 'Profits and gains of business or profession'
And there is no exemption in case of STCG but you can adjust it with exemption limit and can also claim rebate u/s 87A
What if there is only STCG and that too only Rs 10000 by listed shares
Wheather need to pay tax and which ITR need to file,
What about deduction and exemption allowed in above case
No need to pay tax on it as your Total income (i.e., 10000) is less then the exemption limit. It will be adjusted against the exemption limit.
You should file ITR 2. For more info you can watch this video th-cam.com/video/BlZoniUhJpo/w-d-xo.html
And for deduction and exemption, just check the description of the video where you will find the link of exemption videos.. It covers detailed description of all types of exemption.
capital gain provisions related to individual and firm? sir apne karvayi ni? kya hota ha vo?
Individual ka hai.. firm and others assessee ka alag se nhi
@@SameerPandey individual ka short tterm and long term vala ha na?
Thank you very much for providing such clarity
Most welcome 🙂 Pls don't forget to Subscribe and share.
Explain capital gains from equity sales by a senior citizen. Is there any rebate?
It will be exempted for Resident senior citizen if Total income including capital gain is less than 3lakh.
Further LTCG on equity shares is also exempt upto 1lakh.
Sir how incomes tax calculated on pension and short-term capital gain of a senior citizen of defense personnel
Hi
th-cam.com/video/k2FVuCVyfTg/w-d-xo.html
Please refer this video
Sir tax in pension will be calculated as per normal senior citizen...it will be charged under the head Salaries.
Capital gain will also be taxed as per normal procedure.
But I would recommend you to get an expert advice from a practicing CA as well.
You can watch this video..it will help you to compute your capital gain Sir
th-cam.com/video/kHUKkR5BqbU/w-d-xo.html
Thank you so much!!!
Based on your vedio i understand STCG & LTCG tax is flat rate not based on our income tax slab rate.
But my doubt is STCG & LTCG tax is flat rate and irrespective of slab rate so, if my annual income is total 2.5 including STCG & LTCG so in this case do i need to pay flat tax for STCG & LTCG or no need to pay any tax?
You may need to pay tax on your stcg/ltcg depending on the type of your capital asset..you can watch this video for details th-cam.com/video/dS5cX8QPdCw/w-d-xo.html
Sir my friends Income only share market capital gain short term and long term kon sa itr file kar sakta h
ITR 2
For more information you can watch this video th-cam.com/video/BlZoniUhJpo/w-d-xo.html
Thanks bhai it helped alot
Welcome 💫
Thanks for such a prompt response.
Most welcome Sir 🙂
My wife is british citizen. She was working in india for 10 year. She inherited a house in UK from her uncle. But her brother and mother were the executor. Who paid the taxes to UK government on the sale of the house in uk.. after that her brother transfered her money to her UK account. As we were in lockdown we transfered some money from her own uk account and to her india account. Does she liable to capital gain taxes.? Please assist she was summoned under section 131 1a. Please assist sir.
sir tax puri capital par lagega ya prophit par
Nahi sirf Profit pr lagta h
@@SameerPandey thank you sir
Sir , share sell values shown in my ais is different from brokers tax pnl. What should i do ?
You can submit feedback in your AIS along with the proof of your brokers tax pnl and get it corrected by the tax department.
Thank you very much for your kind information and
Most welcome 🙂 Pls don't forget to Subscribe and share.
I am a salaried person. My taxable income from salary after calculating all the Deductions is 4.99 lakh. And I also have a LTCG of 95k. But while filing itr2, I found that I have to pay 14k tax. Why? LTCG should have been extempted.
I have the same question...my total income is less than 5 lakhs excluding short term capital gains taxable @15%....will I get rebate under Sec 87A ? There is no provision to apply for the same in ITR2 and tax is calculated based on Total Income i.e. 5% till 5 Lakhs and 15% for STCG under section 111A....Please clarify
LTCG u/s 112A is exempted upto 1lakh.. LTCG u/s 112 in not. Kindly check under which section your LTCG is falling.
If your total taxable income (including stcg) exceeds 5lakh then 87A is not available. However if it is less than 5lakh then it would have be allowed.
Hi sir,
I am a salaried employee and I also have capital gains(short term).Before joining my company i used to do freelancing for chegg so it is reflecting as technical service (u/s 194j) but very small amount. I am bit confused about this. Can i fill itr 2 and shows technical service in other income ?
Sir you should file ITR3 or ITR4.
Tax exemption or not
Thank you sir for your invaluable guidance. I've done btech in chemical engineering and I have zero knowledge of accounts and commerce. Could you please guide me which online course should I pursue?
For basic understanding of commerce subjects you can refer to my videos..but if you want any specific subject and course then tell me.. I'll see if I can suggest you some good online courses.
@@SameerPandey I see your videos sir but I need some basic A-Z planned course for my day to day activities. Please help
For what kind of activities you want the course.. I mean accounting, taxation, auditing etc
Mere AIS form me capital gain 3000 show kar rha hai but mere groww account me capital gain 2700 hai to me kon sa amount itr me fill karu?
क्या हम shares tax benefits ले सकते क्या
Long term gains pr le skte hai aap agar wo u/s 112A me cover hota h to.
@@SameerPandey plz send your मो नंबर
We required procedures of ITR 2 please help
Noted 👍
Study ke liye koi book bataye
Income Tax Law & Accounts by HC Mahrotra.
You can also refer to taxmann books for detailed explanations.
Thanks a lot sir very nicely explained.
My salary income is 10 lac and LTCG is 50000.
In my itr 2 i include LTCG in my total income or not please clear it...
Sir 10lac will be taxed as per your IT Slab..LTCG is separately taxed but in your case it is exempt as it is less than 1lakh👍
So you don't need to include your LTCG in your total income.
Kya HIF firm ko 87A ki rebate milegi
HUF
Ji nahi Sir.. 87A ka rebate sirf Resident Individual ko milta h.
Sir STCG from Debt Mutual Funds ITR me kaha add kaarein ?
Go to Capital Gain Schedule of your ITR and select 'From Sale of Assets other than all the above-listed items' and then select STCG.
Suppose if there is a loss on Listed NCD e. G.DHFL. invested amount 1 lakh and recd fof as 40000 so loss of 60000.... Can such losses be adjusted against long term capital gains.? Pl advise
Yes you can set-off your capital loss on listed NCD from LTCG.
Thank you very much for advise..
Sir, please please please..tell me how to solve this problem question:- he had share of face value of 250000 of a limited company which were purchased for 259000 in may 2012. He sold them for 905000 on 30-9-2021 and also paid brokerage at 1% on the face value of share.p
For cost of acquisition which amount should be taken weather purchase price or face value...
I am NRI my Ti is 2.45 in which stcg is 35870 and LTSG is 147,399 total capital gain is 1.83 approx. Since there is exemption of income tax limit is 2.50 lacs so no tax liability must be there but Income tax department imposed tax @ 15% on Stcg and @10% on long term. Is this right? Tax exemption limit is 2.50 Lac
Sir Capital gains are taxed separately at special Tax Rates.
However you could have adjusted your exemption limit with capital gains if you were a Resident. In case of NRI no adjustment is available.
Further you are also not eligible for Rebate u/s 87A being a NRI.
So you will have to pay tax on your capital gains.
You can watch these videos for more clarity:
Rebate u/s 87A
th-cam.com/video/dS5cX8QPdCw/w-d-xo.html
Tax Liability on LTCG
th-cam.com/video/GksHEyqAGTg/w-d-xo.html
Sir ji namaskar 🙏
Sir mai ek student mera other income 0 hai Equity me short term capital gains se kitna income hone tak Tex pay nhi karna hai plz reply sir 🙏
Aap iss video ko dekh lijiye apko poori clarity mil jayegi with explanation 👍
th-cam.com/video/hlGr79VqLA0/w-d-xo.html
Hi sir,
My source of income is positional equity delivery trading and my total profit is Rs. 20,000/- dividend, Rs. 2,44,000/- LTCG and Rs. 54,000/- is STCG. What will be my tax liabilities?
Am a senior citizen invested in Shares and MF, apart from income from PMVVY, SCSS, etc. Find it very overwhelming to comply with ITR, especially listing of Capital Gains ISIN wise and Quarterly for details, due to a large number of small transactions. Any way out ? Have been filing ITR2 myself and no audit is required in my case. Only cash equity on delivery basis and also no FnO in my case. Any solution or tip to reduce paperwork and compliance hardships?
Sir i would recommend you to get an expert advice from a practicing CA as it will give you a personalized solution.
My tax is zero after showing my savings and all other things but at the same time I have short term capital gain then I need to pay only 15% or 12500 rebate vala b pay Krna padega?
I didn't get you question... Rebate is a kind of discount use kyu pay krenge?
@@SameerPandey let me explain more elaborately
Say after saving and dedication my income is 4.5 lakh (here is zero tax now) but at the same time i hav stcg under 111a is 2.5 lakh .
Now 15% on 2 lakh only or
5% on 2 lakh(4.5-2.5) + 15% on 2.5(stcg)
See if your total income (excluding Stcg) is less than the exemption limit (2.5L) then you can adjust the balance of exemption with stcg.
In your case your normal income is 2L and STCG is 2.5 L
Your normal is less than exemption limit by 50k (2.5L-2L)
Now you can adjust this 50k with Stcg ...2.5L-50k = 2L
So on 2L stcg you have to pay tax @15% and on normal income.. tax is Nil coz it is less than exemption limit.
You total tax would be 15% on 2L= 30k ...Also you can claim rebate of 12500 u/s 87A coz your total income (4.5L) is less than 5L
Final Tax would be 30k-12500 = 17500 + 4% H&EC
th-cam.com/video/hlGr79VqLA0/w-d-xo.html watch this video you'll get a more clear understanding of what am saying.
Sir, My total income is Rs 614137/-.Deduction and exemption is Rs 117215/-. Net taxable income Rs 496922/- and LTCG is Rs 62596/-.
I have paid income tax Rs 12842/- through agent.
Sir is it correct or not?
Senior citizen ka total income +S.T.Capital yadi 290000 ho,to kya use S.T.capital gain par tax dena hoga?
Agr aap Resident h sir to Nahi dena hoga.
@@SameerPandey Thanks
Good evening.
In last financial year I sold a plot and the full amount of this invested in a flat. Further I redeemed some mutual funds and invested the full amount of this also in above flat.
I want to know whether I can claim the exemption u/s54f for both sale consideration.
Pl guide.
Regards
Yes Sir you can claim for exemption from two different assets subject to the condition which i have discussed in the video..and most importantly the cost of your new residential house must be greater than or equal to the Total Net consideration (from both the assests), only then you will get full capital gain exemption otherwise you'll get proportional exemption.
Hope I've resolved your query Sir.
@@SameerPandey thanks a lot sir.
My Pleasure Sir 🙂 pls don't forget to like and share the video..
Sir, only stgc income of Rs 92000/-, no other income. Have to pay tax? Residents Individual
STCG from which asset?
Share / mf transaction
Total income below 2.5 L
No you don't need to pay tax as your total income including stcg is below the exemption limit 👍
Can I file ITR 1 ? Thank you
Sir by mistake i create a challan for pan linking aadhar by paying 1000/- in AY 2022-23 is there any issue
Sir if you have linked your PAN with Aadhar after 1st July then fine of 1000 will have to be paid.
Sir pdf Kahan mil jayega
Pdf nhi ppt k form me hi hai
I have only income from capital gain(STCG +LTCG = 500000) and I have home loan (interest paid 150000). Lic + school fees paid 140000.
How much is my income tax?
Tax computation will depends upon the type of your capital gain
Sir ji namaste.mai senior citizen hun. Mera income and loss sirf share market se hota hai.Fd, Bank Intrest,Company Duvidend,aur house rent income bhi hota hai. Mera sawal.... kya muze 2.5 lac ya 3 lacs ki basic exemption milati hai ya allow nahi hoti.? Aur kya mere carry forward losses bhi mai LTCG,/ STCG profit se minus kar sakata hun? Pls exain.
Pls explain.
Sir apki income 3 lakh tak exempt hogi.
Carry forward losses apke konse head k hai ??
Under head---long term loss
Long term capital loss aap Long term capital gain se hi set off kr skte h and not from STCG.
@@SameerPandey ok sir ji.
Thanks 🙏 sir
Welcome 🙂
Namste sir, me 20% slab me aata hu.. Maine 79000 income tax paid Kiya he for 21-22, Mera long turm mutual fund profit 93000 he.. to muje our tax bharana padega? Ya nahi.. plz reply
Please reply sir 🙏
Sir agar apka MF equity oriented h to nahi dena hoga qki u/s 112A 1lakh tak exempt hota h.
@@SameerPandey thank you sir
Thank you Sir
Sir Pls clarify if i am having LTCG of 2.5 Lakh out of which 1 Lakh is exempt is the remaining 1.5 Lakh taxable, even if i don't have any other income .
As the total taxable slab is 2.5 lakh & 3 lakh for Sr. Citizens
Sir If you are a Resident then it is Not taxable as you can adjust this 1.5lakh against your exemption limit of 3lakh.
Iam 63year old my brother send me 40 lacks through bank i deposited fd at rate of 7.5%
Shall i pay income tax?
So your income form interest is 3L
Do u have any other source of income also?
I am a 61years lady
I sold my agricultural land in West Bengal
Do l have to pay tax?
If so
How can l save it
Ma'am you can watch this video th-cam.com/video/YgdcQi0UVdI/w-d-xo.html
I have explained in detail on how to claim exemption on capital gain on sale of agriculture land.
STCG on debt funds are added to income and taxed as per income tax slave
Yes STCG other than those given u/s 111A will be taxed as per income tax slab of the assessee.
Hindi Title
Happy morning.
A feedback for your consideration:
If you are making the video in Hindi why are you making the title in English instead of Hindi. Owing to the title language, non-hindi investors are logging in and coming out disappointed leading to waste of time.
If you wish to reach more investors through English title, you may mention - HINDI after the title.
Trust, you will consider this aspect while creating title for your future videos and save our precious time
You may consider ppt which is in English and if you have any query then you can also ask in the comment section.
🙏,. I further want to know that in which schedule of IT2,the LTCG from mutual funds( with indexation) to show please?
Thanks
Debt Mutual Funds?
@@SameerPandey equity funds sir.
Indexation is not allowed for equity mutual funds Sir
@@SameerPandey it's hybrid fund please.
Is it equity oriented i.e., more than 60% equity share in the portfolio of that fund ?? Or is it debt oriented
🙏🙏
Sir apse contact kar sakate hain apka no please 🙏
Sir you can ask your queries in the comments.
@@SameerPandey sir maine 2003 me 200000 ki shop li thi and 2022 January me fourty lakh me bechi to kitna tax ana chahiye please answer me🙏
Apne shop 2002-03 k FY me li thi yaa fir 2003-04 k FY me
@@SameerPandey 20/9/2003
buy
December 21 sell
Apke shop ki indexed cost of acquisition hogi 200000x317/109 = 581651
Net consideration hai 40lakh
LTCG = 34,18,349
Ispr 20% ka tax applicable hoga... Rs.6,83,670