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Short term capital gains from equity
i had a income of two lakh from which i bought xyz company shares and made a total ptofit of 3 lakh so mh total income for this financial year is 5 lakh. so will i be exempted from tax or I need to pay 45000 short term capital gain ?
Replies (1)
Rebate u/s 87A can be claimed against tax on STCG and if your other income below basic exemption limit & you have STCG income than you adjust your remaining limit against STCG.
In your case, total income - 500000(Including STCG rs. 300000)
tax up to 250000. - Nill
tax on STCG(250000 @ 15%). - 37500
total tax - 37500
rebate u/s 87A. - 12500
tax payable - 25000
+ HEC @ 4%. - 1000
Total tax payable - 26000
In your case, total income - 500000(Including STCG rs. 300000)
tax up to 250000. - Nill
tax on STCG(250000 @ 15%). - 37500
total tax - 37500
rebate u/s 87A. - 12500
tax payable - 25000
+ HEC @ 4%. - 1000
Total tax payable - 26000
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