Tax liability on short term profit on sale of shares
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 August 2012
Please let me know what is the tax liability on short term profit of Rs. 62000/- on sale of shares. If that is the only income during the year still I have to pay tax on short term profit on shares.
18 August 2012
If STT is paid, then it would be taxed at the rate of 15%. otherwise normal rate of tax
However, if this is the only income and incase you are resident then there would be no tax since the income is below bis exemption
However, if this is the only income and incase you are resident then there would be no tax since the income is below bis exemption
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CA Navin Jain
(Expert)
18 August 2012
no tax since your total income below the thrashhold limit.
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