Computation of tax

This query is : Resolved

Narendra (Querist)
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21 August 2015 Sir,
my total Income after Chapter VI A Deductins is 462140 (Rs.111636 is from Short-term capital gains TAXABLE @ 15% & Rs.350504 from Salaries)

Now for Short-term capital gains what rate should i apply for computation of Tax (15% or 10%) 10% why because I m falling under 10% Slab rates up to 5Lakhs

Please suggest me in this regard

Please mail me at narendra456@yahoo.com

Taxguy

Taxguy (Expert)
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22 August 2015 Capital gains are taxed at special rates and are not concerned with slab rates, so you may have to compute tax on Capital Gains at 15% and not 10%