capital gain

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CA abhinandan agarwal

CA abhinandan agarwal (Querist)
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25 January 2011 my short term capital gain(stt suffered
) is rs.300000
total income 300000
tax liability

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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25 January 2011 STT means this is after income from shares(right??)

I assumed that this is shares income then STCG is 15% therefore, tax will be:
Rs. 300,000 - Rs. 160,000 = Rs. 140,000

TAx = Rs. 140,000 *15% = Rs. 21,630(including EC & SHEC)

Regards!!!

CA abhinandan agarwal

CA abhinandan agarwal (Querist)
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25 January 2011 but in income tax act book it is written that if other than stcg total income is below 160000 then it is 10% not 15%.

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