For smallcases of stocks, the taxes are the same as for equities. The same taxation guidelines that apply for stocks apply for smallcases as you're eventually holding them in single stocks format.

1 - Short Term Capital Gains (STCG) - Stocks sold less than 12 months of the holding period would be taxed at 20% of the gains. Not applicable on losses.

2 - Long Term Capital Gains (LTCG) - Stocks sold after more than 12 months of holding period with a gain of over Rs.1,25,000 would be taxed at 12.5% of the gains.

The dividend will be taxed only in the hands of the recipients at their applicable rate.