Want clarification on short term capital gain refund


1, Can I get refund the short term capital gain tax by paying LIC premium or buying tax saving mutual funds or something else? 2, If so, how much money I will get refunded?

Answers (1)


198 votes

Yes,You can get refund of STCG .U/s 80C maximum of Rs.1,50,000/- you can get deduction from your income. U/s 80C LIP tax saving mutula funds are covered. You can get a refund of maximum of 15,000 which is limited to the quantum of TDS amount.

No deduction U/s 80C for STCG arises due to transfer of equity shares and units of equity oriented fund through a recognised stock exchange .In this case no deduction is available.

Once the TDS is more than the tax due,you will get refund on filing of IT Return.


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