My total income after 80C, 80D, 80TTA, deduction will be less than 5 lakhs. If I have a small STCG from sale of shares within this 5 lakhs do I still have to pay 15% tax on it.
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What would be the short term capital gain tax on stt paid equity if:
Replies (3)
yes 15 percent applicable
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.
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