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Short Term Capital Gains on Equity Shares

Vinay Jaindani (184 Points)

21 November 2020

is rebate of Rs.12500 allowed on short term capital gains arised from equity shares..

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JATINDER KUMAR (Accountant) (3662 Points)
Replied 21 November 2020

Yes allowed if your taxable income upto Rs. 500000

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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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