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of <h1>Clause 196: Short-Term Capital Gains Tax Set at 20% for Equity Shares and Funds, with Specific Exemptions.</h1> Clause 196 of the Income Tax Bill, 2025, outlines the tax on short-term capital gains from the transfer of equity shares, units of equity-oriented funds, or business trusts. If these transactions are subject to securities transaction tax, the tax rate on such gains is 20%. For individuals or Hindu undivided families, if the remaining income after these gains is below the non-taxable threshold, the shortfall reduces the taxable gains. Transactions on recognized stock exchanges in International Financial Services Centres paid in foreign currency are exempt from certain provisions. Deductions under Chapter VIII apply after excluding these gains.
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