WebNov 16, 2024 · For non-residents, basic exemption limit can be availed only against incomes that are chargeable at normal slab rates applicable to individuals. STCG on listed equity shares and equity oriented mutual funds is taxed at special rate of 15%, irrespective of the tax slab that the individual falls in. Non-residents CAN NOT avail basic exemption ... WebJul 19, 2024 · Se has to pay STCG tax rate @ 15% on Rs 50,000 only. Scenario 4 : NRI, STCG u/s 111A, Pension income & Exemption Limit Example: Mr Hussain (non-resident and age 65 years)earns STCG of Rs 2,20,000 on sale of Shares and also gets a Pension of Rs 5,000 pm. He does not have any other sources of income.
What is the TDS rate for Mutual Funds? If I am taxed at 15
WebSTCG Tax Calculation Example – Let us assume, Mr Singh, a 37 years old Indian resident, is a salaried individual employed at Z Ltd and has an annual salary of Rs. 6,30,000. In May 2024 he invested in 500 equity shares at the rate of Rs. 100 per share and proceeded to sell them off in January 2024, after 8 months, at the rate of Rs. 120 per ... WebSpecial Rates And Exceptions – Capital Gains. ... have been established to preserve the revenue produced by selling capital assets while also reducing the total stcg tax rate obligation connected with such investments. Individuals can take advantage of the short-term capital gain exemption, but to do so, they must first become familiar with ... sting nothing like the sun vinyl
Surcharge on Income Tax : Everything you need to know
WebMay 22, 2008 · A short-term gain is a profit realized from the sale of personal or investment property, a capital asset, that has been held for one year or less. These gains are taxed as … WebThe rate of surcharge on the income-tax payable on the portion of income chargeable to tax under section 111A and 112A. – 25% – Not more than 15% – STCG u/s 111A 54 lakhs – LTCG u/s 112A 55 lakhs – Other income 3 crores: Surcharge would be levied @15% on income-tax on: STCG of 54 lakhs chargeable to tax u/s 111A, WebAug 7, 2024 · Here the difference between the transaction value and the circle rate is now altered to 10 per cent, from the previous level of 5 per cent, to be in line with the amendments in the tax law ... sting nuclear