The Tax Preparation Blog

Question: How are securities tax under the Income Tax Act(India).?

Under the Income Tax regulations, how are capital gains from securities taxed. What is the process of filing tax for these transactions with the Income Taz department

Answer: Short Term Capital Gains (STCG) from sale of shares through recognized stock exchange or units of equity MFs with STT paid are taxed @ 15%

Short Term Capital Loss (STCL) from sale of shares through recognized stock exchange or units of equity MFs with STT paid can be adjusted against any Short Term Capital Gains (STCG) or Long Term Capital Gains (LTCG).

Long Term Capital Gains (LTCG) from sale of shares through recognized stock exchange or units of equity MFs with STT paid are tax free.

Long Term Capital Loss (LTCL) from sale of shares through recognized stock exchange or units of equity MFs with STT paid can be adjusted against Long Term Capital Gains (LTCG) from sale of shares through recognized stock exchange or units of equity MFs with STT paid.

In your ITR you have to declare Capital Gains under Schedule CG.

HMT

Charting the course

Where do you see the Egyptian economy going in 10 years time? In 10 years I see the Egyptian economy at the same level where Italy and Turkey are today. These are economies that are well structured, well established and have institutions that function.

Higher-income

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