Tax on stcg on equity share (stt paid)

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Rashmi (Querist)
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17 July 2014 Please clarify this

If someone has Rs. 10,000 STCG from sell of equity share (STT paid) and he has no other income. This means for Fy 2013-14 he has only income under the head of capital gains i.e. Rs. 10,000 only. Does he required to pay tax of 15.45% of Rs. 10,000 or there wont be any tax liability as total income for the FY 2013-14 is less than Rs. 2,00,000 i.e. minimum slab.

Please help. I had put this query earlier also, but no body replied.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 July 2014 yes slab will be available to him and if the tax is below 2,00,000 then yes no tax payable.

Rashmi

Rashmi (Querist)
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17 July 2014 But what about special rate applicable under 111A? IT officer has denied no tax if no other income and asked to pay 15.45% as special rate of tax on Rs. 10,000. Is it right?

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