WebOct 18, 2024 · If STT is applicable on the asset then the STCG is taxable at a flat rate of 15% under section 111A. STCG arising from the sale of any other asset is subject to slab rate. Hence, if your net taxable income is below … WebFor example, if you are earning over Rs.10,00,000/- per year in salary, you will fall in the 30% slab, and hence STCG will also be taxed at 30%. Also, STCG is applicable only when the income exceeds the minimum tax slab of Rs 2.5lks/year.
What Is Short Term Capital Gains Tax on Shares? 5paisa
WebMay 12, 2024 · Further, STCG (if not chargeable under Section 111A) will be taxed as per the applicable slab rates of the taxpayer. A table summarising the aforesaid tax rate … WebOct 18, 2024 · Which STCG is taxed at 30%? The STCG on a debt mutual fund is taxable at the slab rate. Hence, if the applicable slab rate is 30% for the taxpayer for that year then the rate is 30%. It depends on other taxable income for the respective financial year. The STCG on an equity fund is taxable at a flat rate of 15%. mcws update
Income Tax: Explained - How stock market gains are taxed and …
WebApr 6, 2024 · Short Term Capital Gain (STCG): Any gain arising on the sale or redemption of a debt fund held for less than 36 months is considered STCG. Tax on Equity Mutual Funds … WebMar 21, 2024 · If your earnings (adding STCG) after tax deductions are less than Rs.2.5 lakh there will be no tax liability for you. Tax implications under section 111A will also be nil. When your income (adding STCG) exceeds Rs.2.5 lakh then taxation on STCG at the rate of 15% is applicable. WebJun 30, 2024 · STCG, on the other hand, is levied as per the slab rate. The holding duration in the context of LTCG or STCG varies from asset to asset. LTCG can be applied to real estate in the event when the holding period exceeds two years. LTCG can be applied to debt fund in the event when the holding period exceeds two years. lifeprint photo printer for iphone