Is there any exemption/tax to short term capital gains through shares when the total gain is below Rs.5000/.?

Question

My salary comes to Rs.1,60,000/-. Savings of about Rs.60000/-. Total STCG during the year Rs.4600/-. Is there any need to pay tax for only the STCG when the total income is below the exemption limit?

Answer 1

your salary incoem + short term capital gains. if the total is less than the taxable income slab, no need to pay any taxes on the sort term capital gain

Answer 2

No - you will not need to pay STCG tax in your case.

You need to file your returns though since you "are" in the taxable bracket. The tax liability will be calculated to be zero but you need to declare the STCG also.

Answer 3

no

Answer 4

You income is more than income not subject to income tax so you must file income tax return. You will not pay any tax on short term capital gain as your income is below Rs. 1,10,000 for individuals.

Read http://mytaxes.in/index.php?topic=32.0

Answer 5

Since your have drawn salary above the taxable limit of RS. 110000, so you must file the ITR . Moreever if your total income does not exceeds the limit of Rs, 110000, then you have not any need topay income tax on short term capital gain