Capital gain/loss in equity

Just to add to the above comment

Long term capital gains on equity shares listed in stock exchage is only exempt from tax. LTCG on other shares are taxable.

Dear Bhavesh

1.) Long Term Capital Gain in Equity:

If STT (Securities Trx. Tax) has been paid on their sale-Exempt from Tax Sec 10(38)

otherwise they are taxable @ 10% (without Indexation) / @ 20% (with Indexation)

2.) Short Term Capital Gain in Equity:

If STT is paid @ 15%+Edu Cess+HE Cess Sec 111A

If STT is not paid then as per the normal slab / flat rate applicable to assessee

 3.) Long Term Capital Loss in Equity

If STT is paid on sale LTCL shall not be allowed to be set off against other LTCG income

If STT is not paid then LTCL can be adjusted against other LTCG and can also be c/f for 8 successive AY's for adjustment against LTCGs of those years.

4.) Short Term Capital Loss in Equity.

STCL can be adjusted against other Capital Gains (both Short Term and Long Term) and can also be c/f to next AY and adjusted against Capital Gains for that AY. This C/f is allowed upto 8 successive AY.

what if stt is paid & there's short term capital loss...???