short term capital gain tax not covered by section 111a

sushil kumar (articled) (31 Points)

30 October 2009  

short term capital gain are of two types according to income tax. first one is short term capital gain covered by section 111a and second one not covered by section 111a. The STCG which is covered by sec 111a related to shares and debentures and other securities registered in stock exchange which have tax rate @ 15%. The STCG which is not covered by sec 111a may be like sale of house property in less than 36 months. I want to ask what is the rate of tax of second type of STCG i.e which is not covered by section 111a?