Tax on Short Term Capital Gain
This query is : Resolved
30 September 2010
Dear Experts,
Just wanted to confirm what should be the treatment for profit received from sale of shares taken by pvt ltd co. Should we accumulate with general business income (Net Profit) or keep separate and work out tax separateley
Please revert.
Thanks,
Prashant
Just wanted to confirm what should be the treatment for profit received from sale of shares taken by pvt ltd co. Should we accumulate with general business income (Net Profit) or keep separate and work out tax separateley
Please revert.
Thanks,
Prashant
CA Nagendra
(Expert)
30 September 2010
If the nature of business is trading in share then it is P/G/B/P income. otherwise sale of share attracts capital gain.
if holding period is less than 12 month-STCG special rate as per Sec 111A applicable
if more than 12 month LTCG- if STT paid exempt u/s 10(38)
if holding period is less than 12 month-STCG special rate as per Sec 111A applicable
if more than 12 month LTCG- if STT paid exempt u/s 10(38)
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