Tax on STCG

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Devendra (Querist)
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28 April 2011 Mr. X has STCG income for A.Y 11-12185000, what will be the tax liability? What is the rate of Tax on STCG?
When is the STCG charged @ 10% and when is STCG charged @ 15%?

Please show your calculation.

Thank You
Regards,
Devendra K

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Guest (Expert)

28 April 2011
STCG on Equity Shares and Units of Equity oriented Fund on which STT has been paid,attracts 15 %. In other cases, it would be treated as per slab rate applicable to assessee.

In your case, Tax liability would be Rs. 3,863 (If STCG is from selling Equity Shares etc)or else it would be Rs. 2,575. (Excess of STCG over exempted Income 160,000).

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