Short term capital gain u/s 111a

dear Cci members, I have read in PDF file of capital gain tax rate of income tax site that surcharge should charged 10% on income tax if the taxable income of partnership firm is more than 1 crore. firm is having short term capital gain of 30 lacs u/s 111a on sale of equity shares on which stt has been paid.Now my question is that on what rate I should calculate capital gain. If I am charging 16.5% after considering 1.5 % surcharge on 15% capital tax then is it correct???please guide me as soon as possible as I have to file return before 31st July.thanx in advance.
Replies (1)
from your query it is not clear whether the firm taxable income exceeds 1 crore or not. assuming that it exceeds 1 crore, you might ne subject to tax audit and due date for you will be 30th sept. however stcg will be taxed at 16.5% + cess. if it does not exceed 1 crore then no surcharge applicable.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
12 November 2026
Tax Product Specialist

BharatX.ai

Gurgaon

B.Com

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
Featured 07 November 2026
Paid Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 28 October 2026
Article assistants

Shyam S Gupta and Company

New Delhi

CA Inter

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details