For tax year 2026-27, what is the income-tax rate, excluding surcharge and cess, on short-term capital…
The rate is 20%, excluding surcharge and cess. Section 196 of the Income-tax Act, 2025 applies this rate to qualifying short-term gains on equity shares, equity-oriented…
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For tax year 2026-27, what is the income-tax rate, excluding surcharge and cess, on short-term capital gains from equity shares where the sale is chargeable to securities transaction tax under the Income-tax Act, 2025?
Answer and explanation
Correct answer D
The rate is 20%, excluding surcharge and cess. Section 196 of the Income-tax Act, 2025 applies this rate to qualifying short-term gains on equity shares, equity-oriented fund units and business-trust units where the sale is chargeable to securities transaction tax.
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Gujarat SET (GSET)