STCG
This query is : Resolved
CA. Jyoti Baid
(Querist)
14 September 2009
Hello,
An individual has a total income of Rs. 2,50,000. This consists entirely of short term capital gain (with STT) for the A.Y. 2010-11.
Total Income upto Rs.1,60,00 is exempted. Balance Rs. 90,000 will charged at which rate?
STCG @ 15% or,
@ 10% (since tax is 10% upto Rs. 3,00,000)
Regards,
Jyoti
An individual has a total income of Rs. 2,50,000. This consists entirely of short term capital gain (with STT) for the A.Y. 2010-11.
Total Income upto Rs.1,60,00 is exempted. Balance Rs. 90,000 will charged at which rate?
STCG @ 15% or,
@ 10% (since tax is 10% upto Rs. 3,00,000)
Regards,
Jyoti
Aditya Maheshwari
(Expert)
14 September 2009
STCG tax @ 15% on Rs. 90,000/-. since rates for STCG u/s 111A is defined u/s 111A and a special rate tax.
Manmohan ACA, CS
(Expert)
14 September 2009
agree
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