TAX ON SALE OF EQUITY SHARES
Dhruval Dagliya (16 Points)
09 April 2020
what's the tax implications on sale of equity shares for short term and long term
3 Replies
CA Naveen Chand
(Chartered Accountant)
(12739 Points)
Replied 09 April 2020
STCG on share recognized in Stock Exchange @ 15% (Sec 111A )
Otherwise taxable @ normal tax rate .
Important Note : Maximum Surcharge applicable to CG u/s 111A or 112A is @ 15 % , if applicable irrespective of Total Income
Dhruval Dagliya
(16 Points)
Replied 09 April 2020
IS THERE ANY CONDITION OF TAX ON INCOME ABOVE LIKE THAT
CA Naveen Chand
(Chartered Accountant)
(12739 Points)
Replied 09 April 2020
YES sec 111A has conditions
specified securities (listed shares/ equity oriented units / units of Business Trust )
STT has been paid at the time of purchase and sale (with some exceptions)
then only STCG shall be chargeable to Tax @ 15%
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