No ITR Filed Before But in FY 25-26 I Made Rs 4.5L Stock Gains with Rs 2.4L Salary: How Much Tax Do I Need to Pay?

Chaitra Seetharam | Last updated: 19 January 2026

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For the financial year 2025-26, if you have a salary of Rs 2.4 lakh and Rs 4.5 lakh in long-term capital gains from stocks, your estimated tax liability under the new tax regime will be around Rs 42,250. This is calculated by applying slab rates to your salary (after standard deduction) and a special rate of 12.5% on capital gains exceeding Rs 1.25 lakh. While a rebate under Section 87A can eliminate tax on your salary income, it does not apply to capital gains taxed at special rates. It's crucial to file your first Income Tax Return by July 31, 2026, to avail these benefits and formally choose your tax regime.

For the financial year 2025-26 (assessment year 2026-27), first-time income tax filers with a salary of Rs 2.4 lakh and long-term capital gains from listed equities of Rs 4.5 lakh can expect a total tax liability between Rs 35,000 and Rs 42,000 under the default new tax regime. This amount combines

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About the Author

Chaitra Seetharam

Finance Professional

I write on Income Tax, TDS, ITR filing, banking rules, investment schemes, and financial law updates in India. My articles simplify complex tax provisions, compliance requirements, and policy changes to help taxpayers, professionals, senior citizens, and businesses stay informed and financially aware.

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