Tax on short term capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 September 2013
Respected Sir,
My query is if a person has short term capital gain on shares of Rs.12600/- and the special rate applies 15% on it which is Rs.1890/-, but his normal taxable income is below the taxable limit. My query is that is he require to pay the STCG tax of Rs.1890/- or he don't require to pay any tax.
Thank You.
My query is if a person has short term capital gain on shares of Rs.12600/- and the special rate applies 15% on it which is Rs.1890/-, but his normal taxable income is below the taxable limit. My query is that is he require to pay the STCG tax of Rs.1890/- or he don't require to pay any tax.
Thank You.
13 September 2013
If total Taxable Income Crosses the exemption limit only then Tax is required to be paid.
i.e., if Your total taxable income including Rs 12600/- is below exemption limit of Rs 2 lacs you are not required to pay any tax.
i.e., if Your total taxable income including Rs 12600/- is below exemption limit of Rs 2 lacs you are not required to pay any tax.
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