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STCG for total income below 1.6 lacs

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(Querist)
15 September 2010 I have a confusion regarding computation of Short Term Capital Gains tax on sale of stocks traded on BSE and NSE. If my only source of income is through sale of stocks, and I have NO other income source like a salary or anything else, do I need to pay tax on Short Term Capital Gains (for profits made on stocks sold less than a year after purchase), if my yearly net income is below the 1.6 lacs limit? DO these Short Term Capital Gains come under section 111A?
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sudhakar ca cwa

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sudhakar ca cwa (Expert)
15 September 2010 if ur yearly net income is below the 1.6 lacs limit then u need nt pay the tax
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Rakesh Mehta

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Rakesh Mehta (Querist)
15 September 2010 Thanks Sudhakar! However, when I was filing my IT Returns online using the TRP available on incometaxindiaefiling.gov.in, it showed my tax liability @ 15%. What do I need to do now? Should I update the generated XML directly and then upload it?
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