Tax on short-term capital gains in certain cases.

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....he transfer of a short-term capital asset-- (a) being an equity share in a company or a unit of an equity oriented fund or a unit of a business trust; and (b) the transaction of sale of such equity share or unit is chargeable to securities transaction tax under Chapter VII of the Finance (No. 2) Act, 2004 (23 of 2004.), then, the tax payable by the assessee on the total income, subject to the....

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....s applicable in sub-section (1)(i). (3) The provisions of sub-section (1)(b) shall not apply to a transaction undertaken on a recognised stock exchange located in any International Financial Services Centre and where the consideration for such transaction is paid or payable in foreign currency. (4) Where the gross total income of an assessee includes any short-term capital gains referred to in s....