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From the Financial year 2008-09, all Short Term Capital gains will be charged at the rate of 15%, compared to earlier rate of 10%.
This is applicable for the Capital gain arising on or after 01/04/2008.
To be clear, below is the summary of finance bill:
Increase in tax rates for Short Term Capital Gain
Section 111A and 115AD provide for special tax rate of ten per cent on short-term capital gain arising from the transfer of a
short-term capital asset, being an equity share in a company or a unit of an equity oriented fund , where such transaction is chargeable
to securities transaction tax.
It is proposed to increase the rate of tax on such short-term capital gain to fifteen percent.
These amendments will take effect from the 1st day of April, 2009 and will accordingly apply in relation to assessment year
2009-10 and subsequent assessment years.
Source: Relyon | Back to Budget Page