16 September 2012
My HUF a/c income consist of short term capital gains from shares , interest from Bank FD & no other income . Total income is less than 1.75L per annum . Will short term capital gains from shares as mentioned above will be Taxable ?
in the case of an individual or a Hindu undivided family, being a resident, where the total income as reduced by such short-term capital gains is below the maximum amount which is not chargeable to income-tax, then, such short-term capital gains shall be reduced by the amount by which the total income as so reduced falls short of the maximum amount which is not chargeable to income-tax and the tax on the balance of such short-term capital gains shall be computed at the rate of ten per cent.
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