is rebate of Rs.12500 allowed on short term capital gains arised from equity shares..
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Short Term Capital Gains on Equity Shares
Replies (2)
Yes allowed if your taxable income upto Rs. 500000
Yes Sir. Rebate U/s 87A of the Income Tax Act 1961 is allowed incase of STCG on Sale of Equity Shares subjected to STT, provided your Total Income is within Rs. 5,00,000/- . However note that you will not be able to claim Rebate U/s 87A incase of Long Term Capital Gain on Sale of Equity Shares subjected to STT.
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