23 July 2014
Short term Capital gains, if the assets like shares and securities, are held by the assessee for a period not exceeding 12 months or 36 months in the case of other assets. Under Section 111A:
Short term capital gains arising on transfer of Equity Share or Units of an Equity Oriented Mutual Fund would be taxable @ 15%.
In any Other Case:
The Short term capital gains shall be computed after including same in Total Income and charging Tax as per assessee specific Slab Rates.
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