Short term Capital gain tax on equity

POSTED BY Manish awasthi ON December 23, 2013 6:27 pm COMMENTS (4)

If suppose  a person income is non taxable (Income from all sources is below 2 lakhs in a financial year) and he made a short term capital gain from equity of 50K in a financial year.

Now, Do he need to declare these capital gains from equity and pay short term  tax on it ?


4 replies on this article “Short term Capital gain tax on equity”

  1. Manish awasthi says:

    thnks for clarifyng dis…

  2. Paresh Shetiya says:

    In case there is no other income, no tax will be payable on STCG of Rs 50,000.

  3. Manish awasthi says:

    the person dont have any other taxable income… only 50K on capital gains short term….

    STT is paid on shares sold so now do d person needs to pay tax on capital gains on 50K even if his taxable income is less then 2 lakh ?

  4. Paresh Shetiya says:

    The ST capital gain will be added to your other taxable income and if the balance is over the taxable limit of Rs 2 lakhs, tax is payable on the excess over 2 lakhs.

    If STT (securities transaction tax) has been paid on the shares sold, the tax rate will be 15.45%, otherwise it will be taxable at normal rates as per the tax slab (ie 10.3%).

    Paresh Shetiya

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