short term capital gain tax not covered by section 111a

hi sushil thier is no effective rate for STCG other than Sec.111A it is taxed according to the total income of a person in Slab Rate System.

STCG u/s 111A - taxed @ 15% as per Income Tax Act.

STCG other than 111A- Will be included will other head of incomes under the head Capital gains and taxed as per normal rate of Finance Act.

 hiiii

Short term Capital Gain other than covered u/s 111A is charged at the normal rates by including with the other heads of Income..............

It will be calculated as per normal slab rates.

YES I AGREE AS MENTION ABOVE STCG OTHER THAN 111A WILL BE TAXABLE AS NORMAL TAX RATE,

IF ASSESSE IS INDIVIDUAL RESIDENT SLAB BENEFIT WILL TAKE

OTHER WISE NORMAL TAX RATE WILL BE APPLICABE

hey Sushil

I want to correct u tht STCG u/s 111A does not cover Debentures! hence taxed according normal rate of tax

 according to the normal tax slab

 slab rate available only in case of resident assessee

I purchased Listed Share & this is taken through borrowing the money. so i want to know whether interest on borrowing on purchasing of this share deductable or not?  if deductable under which sectiion & any case law on that? 

Yes, Interest on Borrowings for Shares Purchased can be deductible.  Income on Shares are shows in IFOS.  So as per inclusions & exclusions of act itself, we can deduct such interest as they are incurred for earning such income.  There is a high court or supreme court order also to that effect.

Yes dear,

it will taxed at normal slab rate

How about STCG in case of non-equity mutual funds?

Hi, there is a Net Short term capital gains other than section 111A - STCL . Can we adjust this negative amount against normal income ?