capital gain ????

 Agree with sumit

Even i agree with SUMIT..................

he is not liable to pay tax

Not laible to pay tax

SHORT TERM CAPITAL GAINS TAX IN RESPECT OF EQUITY SHARES/UNITS OF AN
EQUITY ORIENTED FUND REDUCED TO 15% [SECTION 111A]

The proviso to this section provides that in the case of resident individuals or HUF, if the
basic exemption is not fully exhausted by any other income, then the short-term capital gain
will be reduced by the unexhausted basic exemption limit and only the balance would be taxed
at 15%. However, the benefit of availing the basic exemption limit is not available in the case
of non-residents

agree

If transaction is covered by STT( means Securities transaction is paid) then it will chargeable to flat rate of 15%.as per sec.10(33).

Pls clear if wwrong.

STCG = 1lac

No ther income tax will be 15% of 1lac= 15000+ Cess..........

Flat rate =15% (1.5Lac limit)