Tax on Shares

[Kunal]

Hi All,

I have bought 100 shares of Company “X” on 15th March,2008 and sold them on 1st March,2009. Could you please help me out how much tax I have to pay on this?

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[CA_Amit]

A share if sold within 1 Year of buying will be taxed as Short Term Capital Gain. If you sale a share after holding it for more than 1 year, it will be treated as Long Term Capital Gain. In your case - you have bought 100 shares of Company “X” on 15th March,2008 and sold them on 1st March,2009 the period of your holding is less than 1 year and hence it would qualify for Short Term Capital Gain. If you sell these shares after 15th March,2009, i.e., after holding it for more than 1 year, it will qualify as Long Term Capital Gain.

Hope Now It is clear to you