CS BHAVIK HARSHAD SHAH (Company Secretary) (1662 Points)
14 March 2011Hi,
I want to know whether 15% is applicable on sale of gala as short term capital gain
or in only sale of shares 15% is applicable...
today i done 1 income tax file in that sir has not septrely charges 15% on sale of gala..
so i am totally confused...
plese help me........
bhavik
CS BHAVIK HARSHAD SHAH
(Company Secretary)
(1662 Points)
Replied 14 March 2011
Gala is property name like one unit
Anila
(Article Assistant)
(177 Points)
Replied 15 March 2011
Any short term gain is taxed at 15% brother!!
If only there is STCG then u will get exemption upto below taxable limit!!
15% is not only applicable for shares but for all
Ankit Agarwal
(Chartered Accountant)
(197 Points)
Replied 15 March 2011
Short term capital gain u/s 111A is taxable at the rate 15%... other short term capital gain is taxable as per normal slab rate....
CS BHAVIK HARSHAD SHAH
(Company Secretary)
(1662 Points)
Replied 15 March 2011
@ anila : Thanks..........
@ Ankit: Thanks
CAclubindia
