short term capital gain

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This query is : Resolved

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This discussion clarifies whether tax is payable on short-term capital gains (STCG) when your total taxable income, including the STCG, falls below the exemption limit. The consensus is that if your aggregate income, even with the STCG, is below the threshold, you are not liable to pay any tax on those gains.

LAXMI SHAKYA

LAXMI SHAKYA (Querist)
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26 November 2021 Dear All,
In FY 20-21, my taxable income is below the exemption limit, whereas in the same year I've got short term capital gain of 60000/- on sale of shares. Pls Advise, since my income is below exemption limit, still do I need to pay tax on 60000@15%

Thanks
ASAP

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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27 November 2021 Whether you have claimed any deductions?
If yes, then the STCG tax might be payable. If aggregate income including STCG is below exempted limit, then no.

LAXMI SHAKYA

LAXMI SHAKYA (Querist)
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27 November 2021 Respected sir!
Yes my aggregate income inclusive SGST is below exemption limit.

Am'i not liable to pay any tax

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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27 November 2021 No. No tax liability in such case.

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