Short term capital gains query

NaveeN (Banker) (33 Points)

15 January 2022  

Query Regarding STCGT on Equity

Mr. X  made short term capital gains of 8 lakhs in equity shares sold in a FY. He has no other income. After paying short term capital gains  tax @ 15 (120000), the remaining net income is 680000. 

1. After paying STCGT, whether he needs to pay income tax? 

2. If yes means, ca he use 80c deduction options ?

3 . What is the net income tax payable ?