Short term capital gain from share
This query is : Resolved
24 April 2022
Sir
I have taxable income below 5 lakh but during the year have earned short term capital gain from sale of shares rs 200000
How to calculate income tax
I have taxable income below 5 lakh but during the year have earned short term capital gain from sale of shares rs 200000
How to calculate income tax
24 April 2022
15% tax payable on 200000 short term capital gains.
26 April 2022
Thanks for reply sir
But by taxable income is below 5 lakh. Am i still need to pay tax. Can i treat this short term capital gain as business income and need not required to pay tax as i am below taxable limit
If yes then what are pros and cons of treating short term capital gain as business income
But by taxable income is below 5 lakh. Am i still need to pay tax. Can i treat this short term capital gain as business income and need not required to pay tax as i am below taxable limit
If yes then what are pros and cons of treating short term capital gain as business income
26 April 2022
Yes, tax audit applicable if turnover exceed one crore. Higher tax applicable in case of higher profits.
26 April 2022
When the total income of an individual or HUF is upto Rs. 5,00,000 then he claim rebate u/s 87Q upto Rs. 12,500.
In your case, since your STCG is Rs. 2,00,000, a higher tax rate will apply in your case, and you have to pay tax.
In your case, since your STCG is Rs. 2,00,000, a higher tax rate will apply in your case, and you have to pay tax.
30 April 2022
Thanks for reply
Madam my total income including STCG is below 5 lakh
Am i need to pay income tax
If yes at what rate
Please
Madam my total income including STCG is below 5 lakh
Am i need to pay income tax
If yes at what rate
Please
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