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EFFECTIVE RATE OF TAX

Adv. S Sharma (Lawyer) (574 Points)

25 February 2008

Plz tell me the effective rate of income tax of STCG nd LTCG on sale of shares.

effective rate includes surchareg nd edu. cess

thx

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5 Replies

pushpendra (Director- FinMAT Consultants) (1703 Points)
Replied 25 February 2008

Pl. tell me the stastus of Assessee like co. firm or individual

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CA AYYAPPA (Chartered Accountant) (272 Points)
Replied 25 February 2008

LTCG is exempted STCG @ 11.33%

Vijay (CA) (254 Points)
Replied 26 February 2008

HI If shares are sold through exchange and it is STCG then TDS @ 10% plus education cess @ 3% of tax (surcharge is 10% of tax if sales amount is more then Rs 10 lacs in case of individula). LTCG is exempted

CA. Kirti S. Ganatra (Service) (1461 Points)
Replied 26 February 2008

It is not TDS it is Income Tax rate.

(Guest)

AS PER SEC 111A FOR STCG IF OF LISTED CO. SOLD THROUGH RECOGNISED EXCHANGE AND STT PAID THEN TAXES @ 11.33% , IF NOT SOLD THROUGH RE . EXCHANGE AND STT NOT PAID TAXED @ 33.99%. IN CASE OF NON LISTED CO. STCG WILL BE TAXED AT 33.99%. PL CORRECT IF I AM WRONG.THANKS