Applicable rate for short term capital gain when the income of the assessee exceeds 10 lakhs

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Eswar Reddy S (Querist)
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25 December 2013 Hi all, We are going to do income tax computation of the assessee who is having salary income,bank interest on FD and short term capital gain for the AY-2013-14. His salary is 15,00,000 and Capital gain 200,000 bank interest 100000 If I combine the total income , will he liable to pay tax @30% on short capital gain ? On bank interest he has to pay balance tax of 20%,because 10% tds only deducted by bank. Is it correct to calculate short term capital gain @15% seperately ?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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25 December 2013 Tax rate of 15% is applicable if the STCG is on sale of shares sold through stock exchange.

In case of STCG on other assets, the STCG is taxable at normal slab rates.