As on now tax rate on short term capital gains on shares or units which is subject to STT are taxed @ 15 % . However under Direct Tax Code 2010 ,not only there is no specific tax rate for STCG , it is proposed that the STCG on listed shares or units shall be taxed only to the extent of 50 % of gains computed. For example , let us say you bought a share of X ltd for Rs 100 and sold for 150 after six months.