22 June 2010
STCG - as per section 111A, short term capital gains arising from the transfer of any equity share of a company or a unit of an equity oriented fund shall be taxed at a flat rat of 15% w.e.f. asst. year 2009-10 (earlier rate was 10%) , provided the transaction of sale is subject to STT. The concessional rate will apply to all assessees including non residents and FIis. However in case of a resident individual or HUF if the total income is less than maximum amount not chargeable to 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 on the balance of such STCG shall be computed at the applicable rate mentioned above.
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