Thread: Can we claim short term capital gain

Hi,
I want to know if i invest some amt in open ended schemes and redeems within 1 year/ 6 months, so other then the exit load what other fees/load/taxes will be applicable. I have heard some short term capital gain. Is the fund company deduct that amt automatically before giving it to me, and my salary is below tax limit, so is they provide any type of tds certificate so that i can claim that amt. or i cannot claim that amt.

One more thing, should i have to add the total gain which i earn as a income in ITR-1 form , income tax return, or no need as company already deduct short term gain as a tax.
uncle ji

in case of investments in securities, profit earned out of sale within a period of 12 months from the date of purchase is treated as "income from short term capital gain". The same is to be added to your gross total income in the annual return.

ITR-1 is applicable only for Individuals having Income from Salary/Pension/family pension & Interest. For persons have income from House Property or Capital Gains, ITR-2 must be used.

The amount deducted by the Company is in the nature of TDS only and does not absolve the assesse from the responsibility of showing such income in the annual return or from paying appropriate amount of tax on such income.