Short Term Capital Gains on Equity Shares

This discussion clarifies the eligibility for the Rs. 12,500 rebate under Section 87A of the Income Tax Act on short-term capital gains (STCG) from equity shares. The rebate is indeed allowed if your total taxable income is up to Rs. 500,000. However, it's important to note that this rebate is not applicable to long-term capital gains (LTCG) on equity shares, even if they are subject to STT.