If the gross income including short term capital gains is below ₹5 lacs, is it mandatory to pay on short term capital gains. If to be paid at what rate is applicable.
In another case can a short term capital loss be set off against other income and if not can it be carry forwarded to next fin.year.
basic exemption benefit can be availed against STCG u/s 111A
STCG u/s 111A @ 15% Otherwise taxable @ normal tax rate
STC Loss can be set off only intra head only with STCG / LTCG
and the loss can be c/f to next 8 A.Ys
CAclubindia
