Suppose I have salary income (after all deduction and exemption) is 11 lakhs, and the following are the realised gains:
- Equity short term gain 1000
- Debt short term loss 250
(Both of these are combination of profit and/or loss from multiple funds)
In this case, what will be my tax?
Will it be (11,00,000 - 250) * 30% + 1000 * 15%, i.e. debt short term loss will be adjusted by salary income?
Or, will it be 11,00,000 * 30% + 750 * 15%, i.e. debt short term loss will be adjusted by equity short term gain?
Or, will it be 11,00,000 * 30% + 1000 * 15% and 250 needs to be carried forward?