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Tax liability on short term profit on sale of shares

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Querist : Anonymous

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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.
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srinath

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srinath (Expert)
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
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CA Navin Jain

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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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