Short Term Capital Gain Tax

I have few questions regarding Short Term Capital Gain Tax

1 How is Short Term Capital Gain Tax calculated?
2 How much is it charged?
3 Is there any exemtions for Senior Citizens?
4 Does ICICI Direct. Com deducts it automatically or we have to deposit it later?

I am also having same queries+ some more

I am planning to sell one mutual fund within 6 months as i earned 1000 Rs profit. I want to know, how much exit load and capital tax MF company deduct before giving my money back. They have 1% exit load. Is both deduction calculate on profit only or principal + profit.
Also, once company deduct this short term capital tax, whether I need to show this profit into next year income tax return or no need, because company already deduct

Hi,

1) You purchased a share say @rs 100 & sold it @ say 200 within an year then short term ( since sold within an year else long term ) capital gain will be 200 - 100 = 100

2) Currently it is charged @15%
3) No
4) You will have to pay it directly either as advance tax or at the time of filing of your IT return.

Regards
Raju

@ Chitale - my question is, how are intra-day and inter-day traders (basically all the short termers) paying short-term capital gains taxes? can these taxes be deducted at the time of making the trade itself, for example, at an online brokerage? Or do most online traders just wait to file their IT returns and mention the profits there?

thanks, would appreciate a response!

Hi,

No these taxes can not be paid at the time of transaction evenif it is online brokerage. As mentioned in the above post they will have to paid as advance tax or at the time of you file your IT return.

Regards
Raju