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Tax implications on short selling of shares..

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02 January 2012 what are the Tax implications on Short Selling of shares on short term? Do they come under Short Term Capital Gains?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
02 January 2012 Generally, gains rarely arise in such cases, but it will be the case of STCG/STCL.

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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
03 January 2012 If the shares are sold within 12 months of acquisition, then the shares will be short term capital assets. Accordingly, gain or loss on sale of such shares shall be short term gain or loss.

Such STCG is taxable @ 15%. Further, deduction u/s Chapter VIA (80C, 80D, 80E, etc.) are not available against such income.
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