I want to confirm that whether short term capital gain is taxable under slab or under special tax rate
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Short Term Capital Gain
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ull get d benefit of slab rate as mentined in rel finance act & thn special rate will be applied.
Slab benifit is available for STCG after other income.. for example, if u hav STCG of Rs. 50000 and other income of Rs. 200000 then slab benefit will not be available for that STCG. but if other income is only Rs. 120000, then Rs. 120000 (OI) and Rs. 40000 (STCG) will not be taxed and Rs. 10000 will liable to tax only...
That means STCG & LTCG are given 2nd Priority wrt slab benefit... I hope you have got the concept..
Find attached file...
STCG FROM transfer of SHARES or unit of EQUITY oriented mutual fund UNDER SECTION 111A shall be taxable @ 15% and all other cases it shall be taxable at slab rates.
And also no deduction under chapter 6A from stcg u/s 111A.
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