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Short term capital gain on bonds

Page no : 2
Sourav

Sourav (Student)     31 July 2021

For LTCG 3 years
For STCG less than 3 years
Sunny James

Sunny James (Manager)     31 July 2021

what is tax rate applicable on  capital gain ??

Nidhi

Nidhi (Chief Accountant)     31 July 2021

LTCG @ 10% and STCG @ 15% u/s 111A otherwise as per slab
1 Like
Sunny James

Sunny James (Manager)     31 July 2021

Is listed share capital gain exempt ?

Nidhi

Nidhi (Chief Accountant)     31 July 2021

LTCG on listed share are exempt up to Rs. 1 lakh u/s 112A
1 Like
Sunny James

Sunny James (Manager)     31 July 2021

Can I take benefit of indexation in this case ?

Nidhi

Nidhi (Chief Accountant)     31 July 2021

No, U can't take benifit of indexation in case.
In other case , u can like in land and building ect..If it's long term capital asset
1 Like
Sunny James

Sunny James (Manager)     31 July 2021

But STT is already payable on Sale of share, than Is this not a double taxation ?

Nidhi

Nidhi (Chief Accountant)     31 July 2021

Not STT is different than income tax.
income tax is exempt up to 1lakh on LTCG on shares, STT is payable at time of purchase and sale of shares
1 Like
Sunny James

Sunny James (Manager)     31 July 2021

As LTCG earlier exempt from tax and STT is payable, if now its taxable, that STT can be removed by government.

Nidhi

Nidhi (Chief Accountant)     31 July 2021

No, it's not removed as it's only Minor % on sale and purchase value like 0.1 %
LTCG is exempt from tax up to 1lakh which benificial for small taxpayer
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