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| *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. 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. |
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