Deepak Tiwari
deepak
(Querist) 24 June 2009
This query is : Resolved
Is Family Pension Taxable? Also Clarified how much deduction allowed from family pension?
I earn long term capital gain for sale of Equty Share but STT not paid is it taxable ? if not under which Sec.? if yes at which rate without indexation? and at which rate with indexation? also please be advise what is the current rate of index? Also Clarified How to compute index cost?
A V Vishal
(Expert) 24 June 2009
Dear Deepak
Is Family Pension Taxable? Also Clarified how much deduction allowed from family pension?
Ans: Yes, Family Pension is taxable. Hoever you are entitled to claim 33.33% or Rs.15,000, whichever is lower as standard deduction.
I earn long term capital gain for sale of Equty Share but STT not paid is it taxable ? if not under which Sec.? if yes at which rate without indexation? and at which rate with indexation? also please be advise what is the current rate of index? Also Clarified How to compute index cost?
Ans. The Long term capital gain earned on sale of shares but where STT is not paid is liable to LTCG Tax @ 15% without indexation and 20% with indexation
