If stt is paid , should we pay additional tax

Save Share

This query is : Resolved

Raja Kumar Jha (Querist)

04 October 2015 Dear Sir / Madam , Suppose i have income from STCG (SST) or LTCG ( STT PAID) , SHOULD i have to pay additional tax at the ending of respective financial year.

Amol S Joglekar

Amol S Joglekar (Expert)

04 October 2015 LTCG is exempt if STT is paid.
Now which additional tax you intend to pay????

Raja Kumar Jha

Raja Kumar Jha (Querist)

06 October 2015 sir , in case of STCG stt paid , should we had to pay tax at special rate @15%?

Amol S Joglekar

Amol S Joglekar (Expert)

06 October 2015 No. Long Term Capital Gain is exempt if STT is paid.
I think you are getting confused with the provisions of Non Resident, is it?

Raja Kumar Jha

Raja Kumar Jha (Querist)

06 October 2015 sir I am asking about short term capital gain (STT paid) in case of resident individual

Amol S Joglekar

Amol S Joglekar (Expert)

06 October 2015 STCG...what you are saying is right.

Raja Kumar Jha

Raja Kumar Jha (Querist)

06 October 2015 yes sir , my quiry is if there is income from STCG from shares (STT paid ) , some body at this I have pay tax on special rate @ 15%. is this correct

Amol S Joglekar

Amol S Joglekar (Expert)

06 October 2015 yes, the special rate is applicable.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now