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Thursday, July 6, 2017

Short Term Capital Gain Tax

You need to pay only short term capital gains tax. The five heads of income for computation of income tax in India are as follows:
 
 
  1. Income from Salary
  2. Income from House Property
  3. Income from Profits and Gains of Business or Profession
  4. Income from Capital Gains
  5. Income From Other Sources
 

Once an income is counted under one of these heads, it will not be counted again for calculation of taxes. In your case, the short term capital gain you made on shares will be chargeable to income-tax under the head ' Income from Capital Gains'. The short term capital gains are taxed at a special rate of 15 percent for equities, which will be R11250 (15 percent of R75000) in your case. This will be separately calculated, apart from your normal income tax on other heads of income like salary. While filing returns, you will have to fill the ITR 2 form.



For further information contact SaveTaxGetRich on 94 8300 8300

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You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

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Call us on 94 8300 8300

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