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EFFECTIVE RATE OF TAX

Others 1001 views 5 replies

Adv. S Sharma

Lawyer

574 Points Posted on 25 February 2008

Plz tell me the effective rate of income tax of STCG nd LTCG on sale of shares.

effective rate includes surchareg nd edu. cess

thx

Replies (5)

pushpendra

Director- FinMAT Consultants

1703 Points Posted on 25 February 2008

Pl. tell me the stastus of Assessee like co. firm or individual

CA AYYAPPA

Chartered Accountant

272 Points Posted on 25 February 2008

LTCG is exempted STCG @ 11.33%

HI If shares are sold through exchange and it is STCG then TDS @ 10% plus education cess @ 3% of tax (surcharge is 10% of tax if sales amount is more then Rs 10 lacs in case of individula). LTCG is exempted

CA. Kirti S. Ganatra

Service

1461 Points Posted on 26 February 2008

It is not TDS it is Income Tax rate.

Guest

460755 Points Posted on 07 March 2008

AS PER SEC 111A FOR STCG IF OF LISTED CO. SOLD THROUGH RECOGNISED EXCHANGE AND STT PAID THEN TAXES @ 11.33% , IF NOT SOLD THROUGH RE . EXCHANGE AND STT NOT PAID TAXED @ 33.99%. IN CASE OF NON LISTED CO. STCG WILL BE TAXED AT 33.99%. PL CORRECT IF I AM WRONG.THANKS