What would be the short term capital gain tax on stt paid equity if:

1. According to sec 111A, STCG on sale of shares on which STT is paid will be taxed @ 15%. 
2. The unexhausted basic exemption limit if any will be exhausted on the above gains and the balance amount will be subject to tax @ 15%. 
3. In the above case, if the shares have suffered STT, then it will be taxed u/s 111A @ 15%. 
Please correct me if the above solution has an alternative view.