Tax on short-term capital gains: separate tax computation for specified equity transfers, integrated with basic exemption rules. Where specified equity transfers are chargeable to securities transaction tax, short-term capital gains from those transfers are taxed separately at a distinct rate while the balance of total income is taxed as if that balance alone were the total income; resident individuals and Hindu undivided families may reduce such gains to preserve the basic exemption, transactions on IFSC recognised exchanges paid in foreign currency are excluded, and deductions under Chapter VIII apply after excluding these gains.
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Provisions expressly mentioned in the judgment/order text.
Tax on short-term capital gains: separate tax computation for specified equity transfers, integrated with basic exemption rules.
Where specified equity transfers are chargeable to securities transaction tax, short-term capital gains from those transfers are taxed separately at a distinct rate while the balance of total income is taxed as if that balance alone were the total income; resident individuals and Hindu undivided families may reduce such gains to preserve the basic exemption, transactions on IFSC recognised exchanges paid in foreign currency are excluded, and deductions under Chapter VIII apply after excluding these gains.
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