I have just sold the equity shares that I had purchased about 6 months back and earned Short Term capital gains of Rs. 1 lakh. I have no other Income chargeable to tax in India during this year. - I have just sold the equity shares that I had purchased about 6 months back and earned Short Term capital gains of Rs. 1 lakh. I have no other Income chargeable to tax in India during this year. - Ask the Expert - Fee Only Investment Advisers

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I have just sold the equity shares that I had purchased about 6 months back and earned Short Term capital gains of Rs. 1 lakh. I have no other Income chargeable to tax in India during this year.

Is STCG Tax payable on this amount of Rs. 1 lakh considering that it is less than Rs. 2.50 lakhs that is not chargeable to tax

Non-Residents do not get the benefit of the initial exemption limit of Rs. 2.50 lakhs for the purpose of calculating the tax payable on Short term capital gains on listed equity (Section 111A) which is taxed at the rate of 15% plus surcharge