Pradip Basu (1 Points)
12 July 2019
Sugandha Shetty
(student)
(99 Points)
Replied 12 July 2019
Flat 15% tax over any STCG left after adjusting it from Basic exemption limit.
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 12 July 2019
1. According to sec 111A, STCG on sale of shares on which STT is paid will be taxed @ 15%.
2. The unexhausted basic exemption limit if any will be exhausted on the above gains and the balance amount will be subject to tax @ 15%.
3. In the above case, the balance unexhausted amount will be reduced from STCG and the balance STCG (if any) will be taxed @ 15%.
Please correct me if the above solution has an alternative view.
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