Short term capital gain

Since STT is paid on this, STCG is taxable @ 15%. However, relief is available as per proviso to sec 111A (explained below).

No deductions can be claimed u/s 80C to 80U in this case but interest on borrowed capital u/s 24b is deductible.

Relief in some cases (proviso to sec 111A)

Conditions

1. The taxpayer is a resident individual or a resident HUF. He/it may be ordinarily resident or not-ordinarily resident
2. Taxable income minus STCG u/s 111A is less than the amount of exemption limit of ₹2.5 lacs

If the above conditions are satisfied, the following shall be deducted from STCG u/s 111A

                Exemption limit – (Net income or taxable income – STCG u/s 111A)

After deducting the above amount, the balancing amount of STCG u/s 111A is taxable @ 15% + EC + SHEC