I want to confirm that whether short term capital gain is taxable under slab or under special tax rate
4 Replies
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 18 May 2011
ull get d benefit of slab rate as mentined in rel finance act & thn special rate will be applied.
Arvind Sharma
(ACA)
(1432 Points)
Replied 18 May 2011
Slab benifit is available for STCG after other income.. for example, if u hav STCG of Rs. 50000 and other income of Rs. 200000 then slab benefit will not be available for that STCG. but if other income is only Rs. 120000, then Rs. 120000 (OI) and Rs. 40000 (STCG) will not be taxed and Rs. 10000 will liable to tax only...
That means STCG & LTCG are given 2nd Priority wrt slab benefit... I hope you have got the concept..
Find attached file...
Attached File : 200449 718864 total income.doc downloaded: 317 times
M. N. JHA
(CA)
(8316 Points)
Replied 19 May 2011
STCG FROM transfer of SHARES or unit of EQUITY oriented mutual fund UNDER SECTION 111A shall be taxable @ 15% and all other cases it shall be taxable at slab rates.
M. N. JHA
(CA)
(8316 Points)
Replied 19 May 2011
And also no deduction under chapter 6A from stcg u/s 111A.
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