Capital Gains Tax on shares sold

This query is : Resolved

Sanjay Dhaduti (Querist)
Follow

22 March 2009 What is the rate of tax levied on gains made by selling shares

1. For shares held less than an year

2. For shares which are held for more than one year after purchase

3. Is it clubbed with the Income from the primary source of earning? or taxed separately?

CA LOKESH KASAT, FCA, M.Com

CA LOKESH KASAT, FCA, M.Com (Expert)
Follow

22 March 2009 1.gain will be shor term: If sale satisfy condition u/s 111A, then now for such STCG 15%, otherwise normal rate of tax.

2. gain will be long term: tax rate 20% if indexed else 10%, but this will be exepmt u/s 10(38) if condition specified are fulfilled.

3. answer contains in above.