one of my friend is govt employee, and he is investing in shares, but his problem is he buy so many shares and sells with in short term and paid STT, and at the same time long term capital gain also, but net income he earns through shares 100000 average, which is long term and short term, it is very hard to find out short or long term due to large trasactions, but how do we take into account while preparing his salary income tax rturn, because he is govt employee, can you guide very urgent
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How to deal short term capital and long term capital gain
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Gains made on the sale of debt funds and equity funds are treated differently. Funds that invest heavily in equities, usually exceeding 65% of their total portfolio, is called an equity fund.
| Effective 11 July, 2014 | On or before 10 July, 2014 | |||
|---|---|---|---|---|
| Short-Term Gains | Long-Term Gains | Short-Term Gains | Long-Term Gains | |
| Debt Funds | At tax slab rates of the individual | At 20% with indexation | At tax slab rates of the individual | 10% without indexation or 20% with indexation whichever is lower |
| Equity Funds | 15% | Nil | 15% | |
you can have more information from the following link:
https://www.incometaxindia.gov.in/tutorials/15-%20ltcg.pdf
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