Tax on Stcg

This query is : Resolved

sumit (Querist)
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10 July 2008 I want to know about tax on short term capital gain when excluding the short term capital gain from the net taxable income is below the exemption limit.
For example: income from other sources is Rs.50500 & STCG is Rs. 140000/-.
and the assesse is individual
plz calculate the tax from this example

CA Anand Sarda

CA Anand Sarda (Expert)
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11 July 2008 Which Short term capital gain is this?
Is it 10% STCG?

If it is 10%STCG then, first normal is allowed for Basic Exemption Limit then,
STCG
SO In ur case,
the tax liability is
A.Y 2008-09
10% of(190500-110000)
=8050