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Stcg on mf

24 December 2016

Hi please help me on STCG on sale of MF (equity/debt) where there is no other income except this. whether it will taxable under 111A @ 15% + SC?

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2 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (161504 Points)
Replied 25 December 2016

For any income above exempted limit. No tax liability upto 2.50 lakhs

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CA VIRAL SANGHVI (Finance head) (681 Points)
Replied 27 December 2016

Hi,

upto 2,50,000 no amount of tax is applicable and if your gain is only short term capital gain 111A and the income is suppose 280,000 than the rate of tax is applicable @ 10%

there is a specific provision under the income tax Act that if the short fall in slab is utilised by shortterm capital gain than the tax rate is applicable @ 10%.