Tax on stcg

187 views
User Avatar

2 Points Posted on 27 March 2021
STCG ON SHARES RS. 3,50,000 Speculation on shares profit 50,000 other income RS. 2,00,000 80c rebate RS. 1,50,000 can avail ?
0 Reply Share Follow
On 27 March 2021 at 19:19 Report
Replies (7)
Quick Summary
This discussion clarifies the tax implications of Short-Term Capital Gains (STCG) on shares. It explains how to calculate your tax liability under the old regime, factoring in STCG profits, other income, and available deductions like Section 80C. The example shows that even with significant STCG, tax can be managed effectively with proper deductions and rebates.

User Avatar

Chartered Accountant
24588 Points Posted on 27 March 2021
Your tax liability will be after giving rebate of 12500 rupees comes around 18200 rupees under old regime
Reply
On 27 March 2021 at 21:01
User Avatar

17269 Points Posted on 27 March 2021
Tax payable on STCG to the extent on 200000/- @ 15% under old regime
Reply
On 27 March 2021 at 21:05
User Avatar

Chartered Accountant
86505 Points Posted on 27 March 2021

Total Taxable income will be

STCG u/s 111A       3,50,000/-
Other Income Less Deductions       1,00,000/-
Gross Total Income       4,50,000/-

 

Reply
On 27 March 2021 at 21:40
User Avatar

Chartered Accountant
86505 Points Posted on 27 March 2021

Tax on income will be: 

STCG u/s 111A       Rs. 30,000.00/-
Less: Rebate       Rs. 12,500.00/-
Total Tax       Rs. 17,500.00/- 

                         

Reply
On 27 March 2021 at 21:50
User Avatar

Chartered Accountant
24588 Points Posted on 28 March 2021
Tax including cess will be 18200 rupees
Reply
On 28 March 2021 at 06:16
User Avatar

Partner
1072 Points Posted on 28 March 2021

Yes you can claim 80C Deduction .

Reply
On 28 March 2021 at 19:37
User Avatar

Partner
1072 Points Posted on 28 March 2021

Yes you can claim 80C Deduction  of Rs 150000.00
 

Reply
On 28 March 2021 at 19:37

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Sale of plots in open land
  2. Income tax query
  3. Best CA Inter coaching in laxmi nagar
  4. HOW TO SELL SHARES OF PRIVATE LIMITED COMPANY SOME
  5. Unregistered Association of Persons (AOP) Agreemen
  6. Intimation u/s 245 of income tax act
  7. Ewaybill query
  8. IDS Refund: GSTR-2B Invoice Not Validated in State
  9. Self assessment tax paid not reflected in ITR2 fil
  10. Tax on nps corpus

More recent discussions | Post

Related Topics :

Loading