What is meant by Capital Gain Tax.. How the investor is supposed to pay it.. Please clarify?

I am new to share market..
Want to know about Capital Gain tax and its payment..

If you sell your shares within a year of your purchase, you have to pay tax on the profit earned. This is called Capital Gain.

Before the budget the tax was 10% on the profit earned, post budget it has been increased to 15%.

Moreover have a look at the following link which will help you understand it further.
http://finance.indiamart.com/taxation/ca...

Virtually anything is a capital asset. (Eg, not inventory, not held used in trade or business.)

When you sell, the US has you classify the income as short term (held a year or less) or long term (more than a year). In the US, long term gain gets a better tax rate then short term gain.

If you have only a few sales, you just pay the tax bill when you file. If you have lots of sales (or lots of gain), you are expected to mail in estimated tax payments during the year.

When you sell shares, you file a Schedule D. On Schedule D, you report the amount that you paid for them and the amount. You then follow the instructions, which say to do some math to calculate how much you made or lost for the year. You then copy that amount to Form 1040. It is included in the calculation of your total tax for the year.

Capital gains (money that you made by selling shares at a profit) are taxed at 15% if your other income is taxed at 25% or more and at 5% or 0% (I forget which) if your other income is taxed at 15% or less.