No tax deduction is available on fee paid to college outside India
I am a salaried employee and tax is deducted from my salary at source. I made short-term capital gain from sale of shares. What will be the tax payable on such gain?
With respect to short-term capital gain on shares, you will be liable to tax at 15% in case the sale of shares is entered into through a recognised stock exchange and security transaction tax (STT) is paid thereon. In all other cases, the tax will be payable as per the normal slab rate. Further, with respect to the payment of such tax, you have two options:
Option 1: Pay tax on this other income by way of advance tax or self-assessment tax.
Option 2: Give particulars of the gain to your employer and, then, the latter will deduct tax at source on your other income as well.
Under Section 192(2B), if an employee has income under other heads, he may furnish particulars of such income to the employer, who will take it into account in computing the tax to be deducted at source. The particulars of such income are to be furnished in the manner stated in Rule 26B of the income tax rules. It
Be the first to comment.