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income tax for purchased/sold short term & long term shares
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no tax would have been deducted at the time of purchase/sale of shares. you would yourself be required to compute your tax liability and then pay taxes to the govt. in case the shares sold were held for less than 1 year - 15% tax on capital gains would be levied. in case the shares sold were held for more than 1 year - no tax would be levied and the income earned would be tax free. ps: no tax is levied at the time of purchase of shares and tax is only applicable at the time of sale of shares.
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