Liability of Short Term Capital Gains for Housewife on sale of Shares

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  1. NEELAM1962

    NEELAM1962 New Member

    I am housewife with no income & gained Short Term Capital Gain Rs 1L through purchase/sale of EquityShares on NSE/BSE. My share account is Joint with Upper bracket IncomeTaxpayer Husband(2nd). Is there any Short term capital gains liability to me or to my husband. How to pay if applicable.
     

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  2. Parul_Gupta

    Parul_Gupta Active Member

    You can either split the income in equal proportions or show income only in the name of the first owner.

    In your case, it makes more sense to show all the income in your name as it will help in tax saving.

    And in your name, as your income is below Rs. 2.5 Lakhs - therefore no tax would be levied on such income
     
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