20 November 2010
At the time of filing the Income tax return, also include Short term Capital gain, along with Salary, House property income, Business /professional & other income If any. On the total income as computed above, compute the income tax liability.
21 November 2010
Short term capital gain tax means part of income tax only. There is no separate STCG tax as such.
Include the short term capital gain alongwith your regular income & then arrive at gross total income, avail all deduction under chapter VI, the amount is taxable total inocme.THen compute income tax liability, pay the taxes (advance tax if any) and file the IT return. Hope it is clear.
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