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SHORT TERM CAPITAL GAIN on Sale of Shares

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(Querist)
13 February 2009 X, a resident assessee lady below 65 years of age has Short Term Capital Gain amounting to Rs. 1,50,000 in the current year.

Her other income amount to only Rs. 1,65,000 i.e. below taxable limit.

Will she be liable to pay STCG?
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CA Abhishek Bagaria

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CA Abhishek Bagaria (Expert)
13 February 2009 Yes Liable to STCG
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
13 February 2009 After the taking the benefit of unutilized portion of basic exemption limit amounting to 15000/-.
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
13 February 2009 Nitin is correct. Tax shall be payable on Rs.135000/- STCG (At the rate of 10% if conditon satisfied)

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