What is sec 111a and 112

There pertain to Capital gains in income tax

Sriram Somayajula

Admin

20-Oct-21 20:15

In section 111a short term capital gains and its treatment of tax comes....means the tax rate for these type of income is 15% and if there is any deficiency in Normal income to usey bhi hum less kr skte h.....in income me se rebate bhi allowed hoti h but deduction kisi bhi type ka nhi diya jata..... While under 112 is related to long term capital gains and it is taxable@20% Isme se bhi deficiency less kr skte h example: hmare pas bss ltcg ki income h 500000 to isme se hum 250000 normal income ka less kr skte h or bche hue pr tax krenge..... deduction allowed hoti h inpr or rebate bhi milta h agr income 500000 se kam hoti h to

Sushma Verma

CA Inter

★ 2K+

21-Oct-21 22:59