Tax Query: STCG on profit from trading in shares

• October 22, 2023
• CA Chandan Agarwal's Office

Section 87A of the Income-tax Act,1961 (‘the Act’) has been amended by the Finance Act, 2023, to allow benefit of tax rebate under section 87A to individuals or HUF that are small taxpayers, up to a total income limit of Rs ₹7 lakh

I have short-term capital gains of ₹1 lakh, by trading in shares this financial year. I am 55 and have taken VRS. I receive pension of about ₹5.5 lakh annually. Since my total income, including interest on deposits, will add up to ₹7 lakh, will there be no tax if I opt for the new tax regime? Should I still pay STCG on my profit from trading in shares?

Read more: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-stcg-on-profit-from-trading-in-shares/article67438181.ece