The Tax Resources Blog

Archive for July, 2010

Tax Stock Short Term

Question: If somebody is not a tax payee, is he to pay short term capital gain tax on stocks?

Answer: I think you want to ask like this
“if a person has a income less than exemption limit and has short term capital gain income and after adding the short term capital gain in other income than also his income will be less than exemption limit .what will be his tax liability.

the answer is nil tax.if a person has a income less than exemption limit than no tax is payable.

From the next year the STCG tax rate has been increased to 15 % ,how you can save this 15 % read from the following link

http://simpletaxindia.blogspot.com/2008/03/pay-less-short-term-capital-gain-how.html

John Fullerton – Financial Speculation Tax News Conference