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#1
16th January 2008, 11:02 PM
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IT on Short tem capital gains
What are IT provisions if short term gains in case of women are
firstly less that 1,35,000/- Is it straight 10% irrespective of total income or NO tax till exemption limit i.e. 1,35,000/- Secondly More than 1,35,000/- will gains will be added to your income and tax to be calculated on over all income as per tax slab or gains to be added to total income pay 10% on short term and pay as per slab rate on balance income but short term will move up your over all income to next slab rate 
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#2
20th January 2008, 04:15 PM
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Re: IT on Short tem capital gains
If your combined income from all sources including stock market transactions are less then 1.35 lakhs, you do not have to pay any tax.
If you have income from other sources, you can take that income into the tax free limit till 1.35 lakhs and pay 10% short term capital gain on the amount exceeding Rs 1.35 lakhs I am assuming that in all your transactions you have sold though the exchange and have paid STT and involves only delivery based transactions and no day trading I hope it clears your doubts
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