Tax on equity
This query is : Resolved
08 June 2013
hi, pls confirm amt earned through equities (short term) do we need to pay any tax & this is additional income otherthan salaries, if yes what will be the percentage to be paid. pls note total income including equities & salaries is with in the tax bracket. does this income liable for tax
CA PARAS BAFNA
(Expert)
08 June 2013
Though tax is leviable on Short Term Capital Gains on equities (STT paid Case) @ 15% yet in your case, since the income is below taxable level, no tax will be payable.
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