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?
Also, we can shift income u/s111A when our other income is less than basic exemption limit. But once shifting is done, the STCG u/s111A will be taxed at 10% and not 15% as the finance act is yet to be amended. But when there is no shifting, 111A income can be taxed at 15%.