Tax on short term capital gains in certain cases

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....equity share in a company or a unit of an equity oriented fund 4[or a unit of a business trust] and- (a) the transaction of sale of such equity share or unit is entered into on or after the date on which Chapter VII of the Finance (No. 2) Act, 2004 comes into force; and (b) such transaction is chargeable to securities transaction tax under that Chapter, 11[the tax payable by the assessee on t....

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....otal income as so reduced falls short of the maximum amount which is not chargeable to income-tax and the tax on the balance of such short-term capital gains shall be computed at the 12[rate as applicable in clause (i)]. 7[Provided further that nothing contained in clause (b) shall apply to a transaction undertaken on a recognised stock exchange located in any International Financial Services Cen....

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.... sub-section (5) of section 43.]     ***************** NOTES:- 1. Inserted vide Section 26 of the Finance (No. 2) Act, 2004 w.e.f. 01-04-2005 2. Substituted vide Section 21 of the Finance Act, 2008 w.e.f. 01-04-2009 before it was read as, ''ten per cent.'' 3. Substituted vide Section 42 of the Finance Act, 2012 w.e.f. 01-04-2009 before i....

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....oses of this section, the expression "equity oriented fund" shall have the meaning assigned to it in the Explanation to clause (38) of section 10.] " 9. Substituted vide Section 32 of the Finance (No. 2) Act 2019 w.e.f. 01-04-2020 before it was read as, "the Explanation to clause (38) of section 10" 10. Omitted vide Section 49 of the Finance Act 2023 w.e.f. 01-04-2023 before it was r....