Tax implications on short selling of shares..
This query is : Resolved
Guest
Guest
(Querist)
02 January 2012
what are the Tax implications on Short Selling of shares on short term? Do they come under Short Term Capital Gains?
CA PARAS BAFNA
(Expert)
02 January 2012
Generally, gains rarely arise in such cases, but it will be the case of STCG/STCL.
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.
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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