Short term capital gain

This query is : Resolved

ROKKAM RAMA PRASAD (Querist)
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20 March 2015 Hi,

Annual income of an Individual is Rs.10 lakh including short tern capital gain of Rs.7.5 lakhs for the FY 2014-15. Individual is a senior citizen.

How much tax will be applicable?

Pls suggest

CA VISHNU GAVKARE

CA VISHNU GAVKARE (Expert)
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22 March 2015 what is the assets?
If shares then tax will be 7.5lac * 15% = 112500
If other than shares tax will be as per normal slab = 125000.
above tax is exclusive of education cess.

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