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Why is short term capital gains not deducted to calculate limit for 80G?

SANSKRITI BADRI 2111339

CA Final

★ 4K+

26-Feb-23 11:32

479

Answers (7)

Capital Gains is a special income and it has to be taxed apart from other mentioned incomes.

Rajasekaran Suresh

CA Inter

★ 495

26-Feb-23 11:48

Rajasekaran Suresh

Capital Gains is a special income and it has to be taxed apart from other mentioned incomes.

So shouldn’t it be deducted before calculating adjusted total income for deduction under 80G?

Thread Starter

SANSKRITI BADRI 2111339

CA Final

★ 4K+

26-Feb-23 11:48

If you see the computation it states excluding long term capital gains. So since it is already excluded, there is no need to deduct again.

CA Suraj Lakhotia

Admin

26-Feb-23 14:28

CA Suraj Lakhotia Admin

If you see the computation it states excluding long term capital gains. So since it is already excluded, there is no need to deduct again.

Sir but it states only excluding long term capital gains .aren’t we supposed to deduct short term capital gains as well ?

Thread Starter

SANSKRITI BADRI 2111339

CA Final

★ 4K+

26-Feb-23 15:52

Pls share the full question

CA Suraj Lakhotia

Admin

26-Feb-23 15:52

CA Suraj Lakhotia Admin

Pls share the full question

Sir this is the full q.. it’s in the first picture

Thread Starter

SANSKRITI BADRI 2111339

CA Final

★ 4K+

27-Feb-23 08:54

That is normal short term capital gain and not under 112A

CA Suraj Lakhotia

Admin

27-Feb-23 08:57