Newbie Question About Selling Stock and Tax

[b9241 10]

Hello,

 

i'm confused about this subject.

 

I know if I sell some stock, I'm going to be charged capital gains tax, or income tax depending on how long I hold onto the tax.

 

I know they take the price I paid for the stock, (say $100), and then minus it from what I sell the stock at ($120). I would be responsible for paying tax on the $20 gained.

 

What if I purchased the same stock multiple times during different price points? What if I first paid $93.21, then a week later I bought more shares at $96.12, then a month later $98.31?

 

How would this be calculated then?

[divyanshisharma 2]

In case of profit on equity shares sold on stock exchanges in India held for less than 12 months are s taxed at a flat rate of 15 percent. It is also interesting to note that even in cases where the applicable slab tax rate is 10 percent, you will still have to pay tax of 15 percent on such short- term capital gains.