For LTCG 3 years
For STCG less than 3 years
what is tax rate applicable on capital gain ??
Short term capital gain on bonds
Page no : 2
Nidhi
(Chief Accountant)
(3150 Points)
Replied 31 July 2021
LTCG @ 10% and STCG @ 15% u/s 111A otherwise as per slab
Nidhi
(Chief Accountant)
(3150 Points)
Replied 31 July 2021
LTCG on listed share are exempt up to Rs. 1 lakh u/s 112A
Sunny James
(Manager)
(57 Points)
Replied 31 July 2021
Can I take benefit of indexation in this case ?
Nidhi
(Chief Accountant)
(3150 Points)
Replied 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
In other case , u can like in land and building ect..If it's long term capital asset
Sunny James
(Manager)
(57 Points)
Replied 31 July 2021
But STT is already payable on Sale of share, than Is this not a double taxation ?
Nidhi
(Chief Accountant)
(3150 Points)
Replied 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
income tax is exempt up to 1lakh on LTCG on shares, STT is payable at time of purchase and sale of shares
Sunny James
(Manager)
(57 Points)
Replied 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
(Chief Accountant)
(3150 Points)
Replied 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
LTCG is exempt from tax up to 1lakh which benificial for small taxpayer
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