Missing in action: The mystery around short-term capital gains tax data

Number of those reporting such gains is a fraction of investor count from other sources

The latest set of tax data shows a persistent oddity when it comes to short-term capital gains tax.
 

Around 97.8 per cent of them recorded zero short-term capital gains tax in 2016-17. The 1.1 million who have recorded any short-term capital gains tax account for only around one-sixth of active clients. Even after adjustments for the possibility of carry-forward losses, the possible number of those recording short-term gains is only one-tenth of the demat accounts in existence at the time.
 

This is in spite of rising markets in the year under question. The stock market barometer, the S&P BSE Sensex,