The Commerce Journal,Business and Local Businesses
*The Commerce Journal>>>India Taxes

What is the percentage of tax on short term capital gain from shares if security transaction tax is not paid?


What is the percentage of tax on short term capital gain from shares if security transaction tax is not paid?

If the gain is short term and if securities transaction tax has not been paid at the time of sale of shares the gain will be taxed in accordance with the normal provisions at the slab rates applicable to you. That means the gains will be just added to your income and no flat rate of tax.

In the same way, if securities transaction tax has not been suffered at the time of sale of the shares, which are long term assets, the gain will be charged to tax in accordance with Section 112 of the Act. Under this section tax has to be charged on the capital gain computed with the benefit of indexation at 20 per cent. In such a case, if 10 per cent of the gain computed without the benefit of indexation is lower than 20 per cent of the gain computed with the benefit of indexation, the excess over 10 per cent of the gain computed without the benefit of indexation will be ignored in computing the tax liability.

http://www.thehindubusinessline.com/iw/2...

27%...depending on your income bracket

The short term capital gains on sale of shares not subject to STT is taxable at normal rates of tax i.e. 30% if the assesee is in the highest tax bracket plus education and higher education cess as well as surcharge if applicable.

short term capital gain on shares transaction without paying stt is subject to normal rate of income tax. it will not be treated as short term capital.

like... if you have the taxable income including short term capital gain below the basic exemption limit (i.e. 110000.00 for a male below 65 years of age and so on) then there will be no tax.

but if you have the net taxable income including the short term capital gain more then the basic exemption limit then the tax will be calculated accordingly.

Tags
  United States Taxes   United Kingdom Taxes   Spain Taxes   Singapore Taxes   Mexico Taxes   Ireland Taxes   India Taxes   Germany Taxes   Canada Taxes   Australia Taxes   Small Business
Related information
  • For Salary class up to maximum salary how much without deducting the TDS? After for how calculate the TDS?

    Mr.p.amol has explained in full to your question in short. I am giving you still more information which you have not asked also. For salary class or for business the tax slabs are same. For Mal...

  • Hellp for fill income tax return?

    If you write your income details, your tax status like, Male,HUF, Female or Senior Citizen, then any body can help you. You have given your flat address. Is it passable for us to help at your door...

  • Postal charges for sending a card from India to USA?

    An ordinary Airmail envelop with about 40 grams of weight will be charged less than Rs.100/-. If it is through Currier, then it will cost more. An ordinary Airmail will take from 7days to 10 days t...

  • Is anyone know good builder who selling new flats around Rs 200000,t0 Rs 300000 in delhi and ncr.?

    chances are remote to get a flat for Rs.2-3 lac in Delhi or ncr. present rates are much higher. a 2 b/r flat costs anything aroung 25-30 lacs

    ...
  • Income made outside india by 1 person company,resident in india but income kept in forigen country,tax?

    1 person company means Sole Proprietary Concern. Now the question is about your tax status. If you are an NRI, then you need not pay any tax in India and you have to pay taxes at the country w...

  • Ali also got job in a multinational company where his monthly (gross) salary is Rs. x. His savings are Rs.24y?

    You tell us that someone got a job, and what it pays, but you do not ask a question. Do you have a question?

    ...
  • Is it good time to invest in indian stock market?

    There may be some appriciation. But it is riskey. In my view, the appriciation chances are less. If you are still interested to invest, then better invest in some Mutual funds (equity linked). ...

  • My name is"Maazul Islam" Date of birth is"10.05.1929" ack No is"070440600448621" submited on"06.12.07"Please

    Are you nearly 80 years of old?? (1929 ?). You have applied just 2 days back. You have to still Waite at least another 12 days of time. Any way I have checked up your application status. Your ...

  •  

    Commerce Categories--Copyright/IP Policy--Contact Webmaster