What are some of the most important points that I need to remember about short term capital gains?

For the purpose of determination of tax rate, short-term capital gains are classified as follows:

Examples of STCG covered under Section 111A

Short-term capital gains covered under section 111A.

Short-term capital gains other than covered under section 111A

STCG arising on sale of equity shares listed in a recognised stock exchange, which is chargeable to STT.

STCG arising on sale of units of equity oriented mutual fund sold through a recognised stock exchange which is chargeable to STT.

STCG arising on sale of units of a business trust

STCG arising on sale of equity shares, units of equity oriented mutual fund or units of a business trust through are cognised stock exchange located in any International Financial Services Centre and consideration is paid or payable in foreign currency even if transaction of sale is not chargeable to securities transaction tax (STT).