Tax on short term capital gain

[Krunal Bhatt]

Hi,

I have one doubt regarding tax calculation on short term capital gain.

Scenario: My anual salary income is 9,00000 and if i gain 12,00000 as short term capital gain from share trading. I have calculate tax from some online tax calculator site and it is showing me around approx, 4.50,000 as tax amount.

As per my understanding 15% is on short term gain as it should be 1,80,000 and for my salary around 55,000 which turns to approx. 235,000, then why it is showing 4,50,000 on tax calculator on online site.

Please advise me.

AI Summary

Discrepancy in Tax Calculation for Short-Term Capital Gains and Salary Income Sparks Inquiry; Online Calculator Shows Higher Amount A user inquired about calculating taxes on a short-term capital gain from share trading, alongside their annual salary income. They reported a discrepancy between their understanding of the tax amount, which should be approximately 235,000, and the result from an online tax calculator, which showed 450,000. Another participant requested more details, such as the financial year and the link to the tax calculator, to assist in resolving the issue.