Capital gain
durgaprasad
(Querist) 26 April 2014
This query is : Resolved
what is the tax consequence of short term capital gain on sale of share? and what is the rate of STT now?
R.V.RAO
(Expert) 27 April 2014
profit on equity shares sold on stock exchanges in India held for less than 12 months are taxed at a flat rate of 15 percent. It is also interesting to note that even in cases where the applicable slab tax rate is 10 percent, you will still have to pay tax of 15 percent on such short- term capital gains. add 3%edu.cess on the tax.
In case the shares(not traded on stock exchange) are sold within 12 months, the short-term capital gains arising on such transaction shall be included in your regular income and shall be taxed at the slab rate applicable to you.
Add edu.cess 3% on tax.
wef 2012 july the STT rates as follows. pl. check once again with your broker.
Equity-Delivery for Purchase 0.10% on Turnover
eq.del.Sell 0.10% on Turnover
Equity-Intraday Purchase nil
eq.intraday-sell 0.025% on turnover
from june 2013,sale of securities in futures&options segment, the STT has been revised downward as below:.
Sale of an option in securities 0.017% Payable by Seller
Sale of an option in securities, where option is exercised 0.125%payable by Purchaser
Sale of a futures in securities 0.01%payable by Seller
The Finance Bill, 2013, proposed CTT on non-agro commodities such as gold, silver and crude oil among others. Sellers will now have to pay tax at the rate of 0.01 per cent (which means tax of Rs 10 for transaction value of Rs 1 lakh), similar to the Securities Transaction Tax
source: http://www.moneycontrol.com/news/tax/taxesincomeshares 973559
www.smartpaisa.in
R.V.RAO
(Expert) 30 April 2014
Thanks. sri goyal ji.
