Query on short term gain from selling of shares

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IT
23 Points Posted on 18 February 2021

Dear Sir/ Madam,

 

I am having a query regarding sale of listed equity shares within one year of holding. What would be the tax that I would have to pay. I am in the 30 % tax bracket. Will the short term gain added to my personal income or is taxed at a different rate?

 

Thankd

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On 18 February 2021 at 14:01 Report
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Quick Summary
This discussion addresses queries about the tax implications of selling listed equity shares within a year. Short Term Capital Gains (STCG) on listed shares are taxed at a separate rate of 15%. This gain is added to your total income, but it is not double-taxed; the STCG is taxed at 15% while other income is taxed at your usual 30% bracket rate.

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CA Final Student
97 Points Posted on 18 February 2021
@ sridhar
Yes,
STCG on listed shares shall be taxable at seperate rate @ 15%.
and it will be part of your total income.
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On 18 February 2021 at 16:22
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IT
23 Points Posted on 18 February 2021
@ Online Query, does it mean that firstly STCG will be taxed at 15% and then the remaining amount added to my total income in which case I would be taxed again at 30%. Will it not be double tax?
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On 18 February 2021 at 16:33
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CA Final Student
97 Points Posted on 18 February 2021
Yes it will not be double taxed
because other income shall be taxable @ 30% and STCG @ 15%
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On 18 February 2021 at 17:13

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