capital gains
This query is : Resolved
Pawan Kumar Sharma
(Querist)
16 July 2008
are capital gains exempt. What is the rate of tax on short term capital gains
17 July 2008
All capital gains are not exempt. Query is not specific. Rate of tax on short term capital gains may vary from assessee to assessee as the same depends on the slab by which the assessee is covered as the same is taxed like other normal income except STCG in listed securities where it is 10%.
CA. Sahendra Jaiswar
(Expert)
17 July 2008
no all capital gains are exempt.The rate of Short Term Capital gain tax is presently as follows.
10% plus surcharge, if applicable plus Education Cess & Secondary and Higher
education cess (up to A.Y. 2008-09) and
15% plus surcharge plus Education cess &
Secondary and Higher Education cess
(from A.Y. 2009-10)
10% plus surcharge, if applicable plus Education Cess & Secondary and Higher
education cess (up to A.Y. 2008-09) and
15% plus surcharge plus Education cess &
Secondary and Higher Education cess
(from A.Y. 2009-10)
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