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what is short term capital gain?
Hi!
I have invested some amount in equity / share market of india.
As my scriptts are giving me good return i want to withdraw my share. (to sell my stock)
I am not understanding tax calculation in this matter.
1. what is short term capital gain?
2. do i have to pay short term capital gain?( if I do not pay ???)
3. how it is calculated on my profit?
4. who can help me out in calculation and paying STCG tax?
5. how much % of my profit it would be?
Thanks in advance
Replies (3)
in ur case if u sell the securities with in 1year of purchase than it will be termed as short term capital gain and its taxable @ 15%. as per section 111A.
It is taxable, as it is a capital gain. for more information on CAPITAL GAIN CALCULATION and income tax sections for the F.Y 2008-09 you can visit
https://www.payit.in/forums/viewtopic.php?f=10&t=12 (or) https://www.payit.in/2008itactsections.php
sale of shares of security within 1 yr of purchase are short term capital assets and gain on such sale are liable to short trem capital gain. the rate of STCG is 15%. STCG= sales- cost of acquistion.
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