Can you please advise me on exemption of short term capital gains after one year of sale of shares/mutual funds in new tax regime ?

Ans: No, there is no exemption on short-term capital gains tax in the new tax regime or the old tax regime in India for selling shares or equity-oriented mutual funds held for less than one year. Short-term capital gains from these assets are taxed at a flat rate of 15% irrespective of your income tax slab.

Here's a breakdown of the relevant points:

Short-term capital gains (STCG): Profits earned from selling shares or equity mutual funds within one year are considered STCG.
Tax rate on STCG: A flat rate of 15% applies to STCG from equity shares/funds.
New vs Old tax regime: Both regimes follow the same STCG tax treatment.
Exemption applies to Long-term Capital Gains (LTCG) only:

Long-term capital gains (LTCG): Profits earned from selling shares or equity mutual funds held for more than one year are considered LTCG.
LTCG tax exemption: Up to Rs. 1 lakh of LTCG from equity shares/funds is exempt from tax. However, any LTCG exceeding Rs. 1 lakh is taxed at 10% (without indexation benefit).
Looking for tax benefits?

Consider holding your equity investments for more than a year to qualify for LTCG benefits. You can also explore other tax-saving investment options under sections like 80C, 80D etc., which are applicable under both new and old tax regimes.