This discussion clarifies the tax implications for short-term capital gains on equity. For FY 2023-24, an individual with INR 4 Lakh in equity short-term capital gains and INR 20,000 in other income will have their tax liability calculated under the new tax regime. Under this regime, the tax rate on gains exceeding INR 1.20 Lakhs is 15%.
Rina 30 female has equity short term capital gain for 4 Lakh and 20K other income for FY 2023-24 then she have to deposit INR 60000 tax to govt on special rate @15% or there will be zero under new tax regime kindly help thanking you! krishna