sec 111A

This is with reference to Sec111A. An unintended hardship and anomaly has crept in with the proposed change. This is because the aim of providing a lower rate of income tax on short-term capital gain in respect of equity shares, etc., under Section 111 A of the Income-Tax Act was to provide relief to the taxpayers from higher rate of tax which might otherwise become leviable if such short-term capital gains were to be taxed like any other income as a part of the total income.