The Capital Gains Blog

Posts Tagged ‘capital gains limitations’

Question: Does a person have to pay Short Term Capital Gains Tax on securities even if income is within exemption limit?

Answer: If your income including short term capital gains are below taxable (exemption limit), then you need not pay any tax. If your income including short term capital gains exceeds the exemption limit, then you have to pay @10% for the excess amount.

Example:- Say your exemption limit is Rs.1 lakh. Your income without short term capital gains are Rs.90,000; Your short term capital gains are Rs.10,000/-; In this case the total income including capital gains are within the exemption limit. In case if your short term capital gains are Rs.15,000, then you have to pay tax on the excess amount Rs.5000 @10%. (Plus education cess @2% on tax)

Tax Tip: 10 facts about Capital Gains And Losses

Have you heard of capital gains and losses? If not, you may want to read up on them because they might have an impact on your tax return.

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