Short term capital gain on shares

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8 Points Posted on 26 August 2020
a person is short term capital gain on shares RS
5,50,000 and dividend income 5000 and 80 c deduction is 140000 what is his tax liability
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On 26 August 2020 at 18:32 Report
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Quick Summary
This discussion clarifies the tax implications of short-term capital gains on shares. It explains that while dividend income is taxable, 80C deductions are generally not applicable to capital gains taxed at special rates. The example provided illustrates how to calculate the tax liability on gains after considering the basic exemption limit.

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5.5 lac minus 2.5 lac = 3 lac

15% of 3 lac = 45000 + cess 4% = 46800

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On 26 August 2020 at 18:42
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8 Points Posted on 26 August 2020
80 c deduction will allows in this case or not
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On 26 August 2020 at 22:16
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12244 Points Posted on 27 August 2020
80c deductions not allowed for short term capital gains charged at special rates
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On 27 August 2020 at 03:32

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