CAPITAL GAIN TAX
This query is : Resolved
26 December 2010
WHETHER STT HAS ANY EFFECT IN CALCULATION OF CAPITAL GAIN TAX. IF SO HOW?
CA Vinay Gandhi
(Expert)
26 December 2010
Hi Mr.Ramesh,
STT relevance can be seen in case of sale of shares or securities.
Long capital gain on sale of shares or securities and STT is paid is Exempt from tax.
Short term Capital gain on sale of shares or securities on which STT is paid is treated as capital gain u/s 111A and is taxed at flat rate of 15%.
STT relevance can be seen in case of sale of shares or securities.
Long capital gain on sale of shares or securities and STT is paid is Exempt from tax.
Short term Capital gain on sale of shares or securities on which STT is paid is treated as capital gain u/s 111A and is taxed at flat rate of 15%.
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