Applicable rate for short term capital gain when the income of the assessee exceeds 10 lakhs
This query is : Resolved
Eswar Reddy S
(Querist)
25 December 2013
Hi all,
We are going to do income tax computation of the assessee who is having salary income,bank interest on FD and short term capital gain for the AY-2013-14.
His salary is 15,00,000
and
Capital gain 200,000
bank interest 100000
If I combine the total income ,
will he liable to pay tax @30% on short capital gain ?
On bank interest he has to pay balance tax of 20%,because 10% tds only deducted by bank.
Is it correct to calculate
short term capital gain @15% seperately ?
25 December 2013
Tax rate of 15% is applicable if the STCG is on sale of shares sold through stock exchange.
In case of STCG on other assets, the STCG is taxable at normal slab rates.
In case of STCG on other assets, the STCG is taxable at normal slab rates.
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