If i dont have any salary income and my STCG is 2,00,000 then i can pay the tax or tax not applicable?

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Last Comment 2024-07-29

2024-07-27

If i salaried and income is 6,00,000 and my STCG is 1,00,000. what is the tax rate applicable for me.

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Top Comments

https://www.desidime.com/comments/permalink/10231011

DEEPANGEORGE

2024-07-27

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So i have some doubts

so LTCG not applicable in this rule -> which is right:)

but still the doubt persists

can you please clear me 2 important questions (one ITR doubt and one TAX doubt)

1) ITR question -> do i still have to file ITR incase my STCG is 2lakhs and no other income source is there?

2) Tax question -> since STCG dont come in basic exemption (of 2.5 lakhs or 3 lakhs), so do we have to pay tax for 2 lakhs even if we dont have other income sources?

flash007

https://www.desidime.com/comments/permalink/10231042

flash007

2024-07-28

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@DEEPANGEORGE

1. You can skip if income is less than basic limit, but it good to file.

2. STCG comes under 87A rebate, so tax on income less than 7L is not charged

https://www.desidime.com/comments/permalink/10232490

WEdesiDimer

2024-07-28

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For this year :- IF YOU USE INCOMETAX WEBSITE---> YOU WILL HAVE TO PAY TAX ₹15000+4%

IF YOU USE THIRD PARTY SOFTWARES (USED BY CAs) ---> THEN NO TAX...

Reason:- DIFFERENCE OF OPINION REGARDING AVAILABILITY OF SECTION 87A REBATE (EXPERTS VS DEPARTMENT)...

https://www.desidime.com/comments/permalink/10232630

flash007

2024-07-28

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Waah waah,

i thought third part website also use the main website internally but with your comment i am assuming they are not

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https://www.desidime.com/comments/permalink/10230005

Jarvis.-.

2024-07-27

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upto 1L exempt (1.25L next yr) then u pay 10% tax (12.5% next yr)

https://www.desidime.com/comments/permalink/10230006

BVR9

2024-07-27

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sorry bro on STCG? what is the tax rate if i dont have any other income .

View 4 more replies

https://www.desidime.com/comments/permalink/10230021

legend101

2024-07-27

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If total is under 7l then no tax, if you have interest income as well and total income goes above 7l then stcg is taxable at 20%

https://www.desidime.com/comments/permalink/10230028

BVR9

2024-07-27

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Then no tax for STCG below 7L with no other additional income.

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https://www.desidime.com/comments/permalink/10230037

Demon_slayer

2024-07-27

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If there is no other income and only stcg of 2L,

You will have no tax liability.

https://www.desidime.com/comments/permalink/10230058

BVR9

2024-07-27

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are you sure? what is the maximum STCG amount not applicable to tax liability.

View 1 more reply

https://www.desidime.com/comments/permalink/10230691

flash007

2024-07-27

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Under Old regime, if the total income including STCG is less than 5L, no tax

Under new regime, if the total income including STCG is less than 7L, no tax

(LTCG is not applicable for this rule)

https://www.desidime.com/comments/permalink/10231011

DEEPANGEORGE

2024-07-27

Link Copied

So i have some doubts

so LTCG not applicable in this rule -> which is right:)

but still the doubt persists

can you please clear me 2 important questions (one ITR doubt and one TAX doubt)

1) ITR question -> do i still have to file ITR incase my STCG is 2lakhs and no other income source is there?

2) Tax question -> since STCG dont come in basic exemption (of 2.5 lakhs or 3 lakhs), so do we have to pay tax for 2 lakhs even if we dont have other income sources?

flash007