Short-term capital gains tax on equity transactions: separate tax computation applies with special resident exemption and IFSC exception. Short-term capital gains from transfer of equity shares, units of equity oriented funds or business trusts that are chargeable to securities transaction tax are subject to a separate tax computation: tax on those gains is calculated at the prescribed rate and aggregated with tax on the remaining income, with a resident individual/HUF adjustment reducing such gains to the extent of the basic exemption shortfall. Transactions on a recognised stock exchange in an International Financial Services Centre settled in foreign currency are excluded from the STT condition, and Chapter VI-A deductions apply after excluding these capital gains from gross total income.