Question

If Ram's only income is of Rs. 2,70,000 as long-term capital gain on shares calculated according to

the provisions of section 112 A. Calculate his tax liability
​

Answer 1

Answer:

27000

Explanation:

for example, where a person makes a capital gain of Rs. 3,00,000, then the Capital Gain in excess of Rs. 1,00,000 i.e. Rs. 2,00,000 shall be chargeable at the rate of 10% and the Capital Gain Tax shall be Rs. 20,000 (being 10% of Rs. 2,00,000).