Income-tax Act, 1961

Section - 111A - Tax on short-term capital gains in certain cases

Tax on short-term capital gains in certain cases.

111A. (1) Where the total income of an assessee includes any income chargeable under the head "Capital gains", arising from the transfer of a short-term capital asset, being an equity share in a company or a unit of an equity oriented fund or a unit of a business trust and-

(a)	-	the transaction of sale of such equity share or unit is entered into on or after the date on which Chapter VII of the Finance (No. 2) Act, 2004 comes into force; and
(b)	-	such transaction is chargeable to securities transaction tax under that Chapter,

¹⁶[the tax payable by the assessee on the total income shall be the aggregate of-

(i)

the amount of income-tax calculated on such short-term capital gains-

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