Capital gain tax rate help

697 views 3 replies

Dear ,

 

I want to know the tax rate at which short term capiatl gain of depreciable asset to be taxed?

If a person sold a depreciable (long Term) asset it should be treated as short term capital gain Us 50 of IT. But what rate of tax to be applied for calculating tax on STCG? Should it be 15% or as per slab rates?

 

 

Replies (3)

a) Short-term capital gains shall be included in the gross total income of the taxpayer and will be taxed at the normal rates;

b) Short-term capital gains arising from transfer of Equity Shares, Units of an Equity Oriented Funds or a unit of a business trust which is chargeable to securities transaction tax shall be taxed at 15% under Section 111A.

Hello,

Period of holding of asset shall not be considered at the time of calculating capital gain on depreciable assets. Capital gian shall always be short term & it will be taxable as per slab rate.

agree with saurabh

Deduction under chapter VI-A(80C, 80D, etc) shall not be allowed on short term capital gain.

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