Section 111A - Tax on Short Term Capital Gains in certain cases

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..... y if STT (security transaction tax) is paid. Section 111A(1) shall be applicable to all assessees including non-residents, if all the following conditions are fulfilled :- The gains arise from transfer of a short term capital asset Being an equity share in a company or a unit of an Equity oriented Fund or units of a business trust and The transaction of sale Is chargeable to securities transaction .....

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..... in Section 111A. STCG other than referred in Section 111A shall be taxable at normal rates applicable to the assessee. Adjustment of unexhausted Basie Exemption Limit In case of resident individual or HUF, if the basic exemption is not fully exhausted by any other income, then the short capital gain will be reduced by the unexhausted basic exemption limit and only the balance would be taxed at 15 .....

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