For smallcases of stocks, the taxes are the same as 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 holding period would be taxed at 15% of the gains. Not applicable on losses.

2 - Long Term Capital Gains (LTCG) - Stocks sold for more than 12 months of holding period with a gain of over Rs.1,00,000 would be taxed at 10% of the gains from Apr 1, 2018.

For more info, please refer to the FAQs drafted by the Central Board of Direct Taxes - http://incometaxindia.gov.in/News/FAQ-on-LTCG.pdf

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