Tax on STCG in new tax regime

Taxation
1

Hi all,
If my STCG in a financial year is 4L, profit from equity intraday trading is 1.5L and no other income is there. Then in NEW TAX Regime how much tax I need to pay.Plz help regarding this.

2

Tagging @Quicko to help us out here

3

Hey @Ddhar,

STCG from domestic listed shares is taxed at 15% and your intraday profit will be taxed at slab rate.

Under the new tax regime, your tax liability will come to 37,500. However, as your total income is below ₹7L, you are eligible for a rebate of ₹25,000 and hence your net tax liability including health and education cess will be ₹13,000.

Hope this helps!

4

Hi Quicko, Seek some more clarification . Lets say there are 2 following scenarios

  1. Person A has no salary income but annual rental income of 6 lacs and 3 lacs dividend and interest income. He makes 4 lacs STCG through listed shares. What will be his tax liability under new tax regime
    2 ) Person B has marginal interest + dividend income of say 50 thousand for the year. How much STCG for this person will be tax exempt if at all. Or will he be taxed at 20% irrespective of his income from other sources
    Thanks in advance! - Dheer
5

Hi @Dheer9,

  1. For Person A, the annual rental income of ₹6 lakhs, combined with the dividend and interest income of ₹3 lakhs, amounts to ₹9 lakhs. Under the new tax regime, this income will be taxed at the applicable slab rate. Additionally, the short-term capital gains (STCG) of ₹4 lakhs from listed shares will be taxed separately. Gains realized before July 23, 2024, will be taxed at 15%, while those realized on or after this date will attract a tax rate of 20%.

  2. For Person B, if the total income includes only ₹50,000 from interest and dividend along with the short-term capital gains (STCG), the basic exemption limit of ₹3 lakhs under the new tax regime can be utilized. The ₹50,000 interest and dividend income will first be adjusted against the exemption limit, leaving ₹2.5 lakhs available to offset the STCG. Any STCG exceeding this exemption will be taxed at the applicable rate. For gains realized after July 23, 2024, the tax rate will be 20%.

1 Like
6

Appreciate the clear response. Thanks a lot!!!