Tax on Short Term Capital Gain

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Prashant (Querist)
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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

CA Nagendra

CA Nagendra (Expert)
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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)

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