Income Tax Return 2020-21: Do THIS to save tax on Long term capital gains of up to Rs 1 lakh before March 31
Income Tax Return 2020-21: Last date to file Income Tax is March 31. Those who have not filed their Income Tax Return (ITR) for AY 2020-21 yet and want to save money in taxes, there is a way where you can still save tax on profit made up to Rs 1 lakh from the stock market.
As per Section 112A, long-term capital gains on equity shares are fully exempt up to Rs 1 lakh and the balance is taxed @10%. Source: Reuters