STCG & LTCG rates for 13-14 c/reg

[Asked by Guest]

Sir,

I am engaged in trading of shares through IDBI Bank share trading platform. I have earned Rs. 60000/- during 2013-14 and also sold shares less than their purchase price incurring loss of Rs. 22000/-. Kindly let me know how much STCG tax I will have to pay.Regards.

Pradip

[DR.MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in the above issue? If not please inform.

AI Summary

Short-term capital gains tax query: offset of share trading profits and losses to determine taxable STCG liability.
Whether a taxpayer engaged in share trading must pay short-term capital gains (STCG) tax where trading produced gross gains on some disposals and separate disposals gave rise to an overall loss in the same fiscal year, the issue being calculation of taxable STCG from transactions executed through a bank trading platform.