is rebate of Rs.12500 allowed on short term capital gains arised from equity shares..
2 Replies
JATINDER KUMAR
(Accountant)
(3662 Points)
Replied 21 November 2020
Yes allowed if your taxable income upto Rs. 500000
Shivam RC
(Student)
(23683 Points)
Replied 21 November 2020
Yes Sir. Rebate U/s 87A of the Income Tax Act 1961 is allowed incase of STCG on Sale of Equity Shares subjected to STT, provided your Total Income is within Rs. 5,00,000/- . However note that you will not be able to claim Rebate U/s 87A incase of Long Term Capital Gain on Sale of Equity Shares subjected to STT.
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