His monthly income at present in
Pension - 23,000 INR - PM
Bank FD Interest - 28,000 INR - PM
Kindly check a note prepared by the I-T dept to know capital gains tax http://www.incometaxindia.gov.in/Tutorials/15-%20LTCG.pdf
You can refer to the tax calculators available on Income Tax Department's website -
You can use other calculator on the I-T Dept website to calculate tax liability of your uncle as well.
Ameet Patel Ameet N Patel is a chartered accountant and former President of Bombay Chartered Accountants Society - BCAS
Subodh Shah CA Subodh Shah is a Fellow Member of the ICAI. A merit ranker throughout his career, he stood 3rd in CA Intermediate and 17th in CA Final. In addition he also got the prize of ICAI for scoring the highest marks in Direct Taxes at CA Final. He is practicing Chartered Accountant as well as a teacher for over 20 years.
Ameya Kunte Ameya Kunte is a Tax Professional, Chartered Accountant & Co-founder - Taxsutra.com
Nikhil Vadia CISA qualified Nikhil Vadia is a Chartered Accountant in practice since 1997
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Yogesh Sapkale Yogesh Sapkale is Deputy Editor of Moneylife and writes on financial and tax related issues
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