Short term capital gain

This query is : Resolved

Manikandan (Querist)
Follow

05 May 2016 How to file capital gain income. which paid STT and also giving business income under the specified business clubbed this incomes and calculate 15% tax plus 3% cess.it's given share trading company statement. How to file these types of income and also the assessee having salary and bank interest. Can club with income plus capital gain. If clubbed the income capital gain tax 15% but tax limit for individual 2.5 lakhs to 5 lakhs 10% how to compute the STCG. THANKING YOU.

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
Follow

05 May 2016 Special rate of tax of 15% is applicable to short term capital gains, irrespective of your tax slab. Also, if your total taxable income excluding short term gains is less than the minimum income which is chargeable to tax (Rs 2,50,000 for financial year 2014-15) – you can adjust this shortfall against your short term gains. Remaining short term gains shall be then taxed at 15% + 3% cess on it.

Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615

Note : If you find our reply useful. Please Score us by clicking on "THANK USER"

Message likes : 1 times

Manikandan

Manikandan (Querist)
Follow

06 May 2016 The person also having long term capital gain loss it can be set off? or can carry forward? or not calculate this negative value?

Upgrade to CAclubindia Pro. Subscribe Now!

Manikandan

Manikandan (Querist)
Follow

06 May 2016 The person also having long term capital gain loss. Can there is set off ?or carry forward? Or not taken to calculate this negative value? Thanking you.

Manikandan

Manikandan (Querist)
Follow

06 May 2016 The person also having long term capital gain loss. Can there is set off ?or carry forward? Or not taken to calculate this negative value? Thanking you.

Message likes : 1 times