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Income tax query
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....ncome tax query<br> Query (Issue) Started By: - Sebastian cs Dated:- 14-11-2017 Last Reply Date:- 11-12-2017 Income Tax<br>Got 5 Replies<br>Income Tax<br>Sir, if i invest say 1 lakh a month from a sal....
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....ary of say 2 lakh from april 2017 to jan 2018 i.e in a period of 10 months i have invested 10 lakhs from my income of 20 lakhs and as of march 2018 the investment has lost its value and is about only ....
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....2 lakhs (i.e i have lost 8 lakhs) so would i have to pay Income tax for the entire 24 lakhs i earned or would i have to pay for 16 lakhs that i have?? Reply By Hari Beldona: The Reply: As there is n....
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....o transfer of capital asset i.e investment of. RS 10 lakhs hence there is no capital gain/loss and such loosing of value cannot be setoff as per section. 72. You have to pay tax on entire 24 lakhs und....
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....er salary income Reply By Ganeshan Kalyani: The Reply: Yes, entire amount is taxable. Reply By Ramaswamy S: The Reply: Under salary there is a limit on all exemptions. However tax is payable on en....
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....tire amount of salary. Investment (others) may be under a different head of income (capital gains) and the same cannot be set off against salary income. Regards S.Ramaswamy Reply By Ganeshan Kalya....
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....ni: The Reply: Yes , Sir. I agree. Reply By Sebastian cs: The Reply: Thank you sirs you all have been a great help!!<br> Discussion Forum - Knowledge Sharing ....