Tax on short term capital gain

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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.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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.

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