Loss from sale of shares for short term

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 August 2011 Sir,
1. If share are sold (STT paid) for profit in short term it is taxable or not? if so what extent?

2. If shares are sold (STT paid) for loss in short term that loss will be set off or carry forwarded?

Please give reply

Sunil Kr. Sanganeria

Sunil Kr. Sanganeria (Expert)
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04 August 2011 Yes, any short term profit on sale of shares(STT paid) is taxable @ 15%.

Any short term loss on sale of shares(STT paid) is set off against profit on short term profit on sale of shares(STT paid)