Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
02 August 2012Friends
The salary income of an individual exceeds Rs 10 lakhs thereby making the assessee liable to tax @ 30%. Now the individual has also short term capital gain. Is the STCG liable to tax at 30% or 15%.
Regards,
RAMESH CHANDRA SHARMA
(munka istentisztelet)
(899 Points)
Replied 02 August 2012
NO DOUBT .......15%
oh yes.....for stcg on shares otherwise 30%
thanx mannu
mannu
(1/2 CA)
(589 Points)
Replied 02 August 2012
if stcg is u/s 111A...then @ 15%
otherwise 30%..
am i right???
ayush agrawal
(CA Final)
(56 Points)
Replied 03 August 2012
If the short term capital gain is due to the gain on shares (i. e. equity oriented) then the same is taxable at 15% else the same will be included in your taxable income, which in this case, is exceeding 10 Lacs making it liable to tax @ 30%
dipakmane
(students)
(47 Points)
Replied 03 August 2012
YES.. AYUSH IS RIGHT AND MORE CLEAR...
STCG U/S 111(A) THEN 15%, OTHERWISE IT WILL BE INCLUDED IN THE OTHER NORMAL INCOME AND TAX WILL BE CALCULATED ACCORDINGLY
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
CAclubindia
