Tax

This query is : Resolved

Report Abuse Follow Query Ask a Query

sunil yadav

sunil yadav (Querist)
Follow

23 July 2014 What's short term capital gain.and how much percent are charged for capital gain

CA Shashank Jain

CA Shashank Jain (Expert)
Follow

23 July 2014 Short term Capital gains, if the assets like shares and securities, are held by the assessee for a period not exceeding 12 months
or
36 months in the case of other assets.
Under Section 111A:

Short term capital gains arising on transfer of Equity Share or Units of an Equity Oriented Mutual Fund would be taxable @ 15%.

In any Other Case:

The Short term capital gains shall be computed after including same in Total Income and charging Tax as per assessee specific Slab Rates.