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Tax-Income Tax

Income tax - form 10e

While filing form 10e for claiming tax relief on salary arrears received, if the person has income from salary and income from sale of shares which is taxed under special rates, in both the FY- ie, in 2022-23, and 2023-24, which income to be mentioned as total taxable income? That is total income including income received from sale of shares which is taxed at special rates under 111A,112 Or total income excluding the income from the sale of shares?

( Kozhikode, Kerala )

9 months ago

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A.

Dear Client,
Tax is calculated on your total income earned or received during the year. To save you from any additional tax burden due to delay in receiving income, the tax laws allow a relief under section 89(1). For the calculation of the tax burden, Income from all the sources needs to be Included. Therefore along with your Income from salary, Income from sale of shares shall also be Included. The Income received from sale of shares shall be taxed at special rates under sections 111A and 112. We hope that our response is helpful to you.

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