tax on short term capital gain?

madhan, you are not required to pay short term capital gain tax as your normal income is below exemption limit i.e. Rs. 150000 and in that case, u/s 111A you are allowed to set off the deficiency that you faced in your normal income with short term capital gain. In the case your short term capital gain exceeds the exemption limit during the year, then, you are requried to pay tax.

Yupp Mr. Love is correct.

NOT REQUIRED.....................

thnx tinku