LTCG - Loss on Equity

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This discussion clarifies which expenses, such as brokerage, stamp duty, SEBI charges, and GST, can be deducted when calculating long-term capital gains (LTCG) and short-term capital gains (STCG) on equity. It also addresses that bonus shares are not dividends but assets acquired at zero cost. The conversation further explores tax liability for senior citizens, explaining that the Rs. 3 lakh and Rs. 12 lakh tax-free thresholds apply to slab rates, not special rates for capital gains, and outlines the tax implications for LTCG exceeding Rs. 7 lakhs.

sundeep

sundeep (Querist)

20 May 2025 WHILE CALCULATING LOSS ON LTCG IN EQUITY, DO I INCLUDE EXPENSES LIKE INTERNET BILL, BROKERAGE, STAMP DUTY, SEBI TRANSACTION CHARGES, GST, ETC... TO ARRIVE AT THE FINAL LOSS FIGURE?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

20 May 2025 Yes, eligible except internet bill..

sundeep

sundeep (Querist)

21 May 2025 THANKS SIR..................

sundeep

sundeep (Querist)

21 May 2025 1. SIMILARLY, WHILE CALCULATING PROFIT ON STCG IN EQUITY, DO I INCLUDE EXPENSES LIKE INTERNET BILL, BROKERAGE, STAMP DUTY, SEBI TRANSACTION CHARGES, GST, ETC... TO ARRIVE AT THE FINAL PROFITS FIGURE?
2. WHETHER THE BONUS SHARES 26 NOS WIPRO RECEIVED in December last BE TREATED AS DIVIDEND OR HOW?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

21 May 2025 1. Yes, as said above.
2. It cannot be treated as dividend. It is an asset acquired at ZERO cost.

sundeep

sundeep (Querist)

21 May 2025 THANKS SIR.......................

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

21 May 2025 You are welcome.

sundeep

sundeep (Querist)

21 May 2025 Sir, if my wife made capital gains of Rs. 1.90 Lacs after indexation @20% this FY on apartment sale, and her total income is below 5 Lacs. Is she liable for any LTCG tax or income tax? she will become senior citizen this coming August2025

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

21 May 2025 Only income upto Rs. 3 lakhs will be exempt. Anything above will be taxable.

sundeep

sundeep (Querist)

21 May 2025 If total income is up to 3 lacs then she does not have to pay LTCG tax?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

21 May 2025 Correct, under new regime....

sundeep

sundeep (Querist)

22 May 2025 Sir, I m sorry . I got confuse here. My wife LTCG income is Rs.9 lacs after 20% indexation she will be senior citizen in August 2025. The income from FD and savings will be about Rs.1 lakh. so does she pay income tax and LTCG tax both?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

22 May 2025 She will have to pay 20% LTCG over 7 lakhs...

sundeep

sundeep (Querist)

22 May 2025 SIR WHAT IS 7 LACS? WHY NOT 12 LAKHS? AS PER LATEST

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

22 May 2025 Rebate is not eligible for Capital gains when taxed at special rates.

sundeep

sundeep (Querist)

26 May 2025 SIR, IS INCOME UP TO 12 LAKHS TAX-FREE?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

26 May 2025 It is for slab rate, not for specified rates.

sundeep

sundeep (Querist)

02 June 2025 Sir, if I limit my total income up to 12 lacs in the new regime, including 9 lacs LTCG for FY25- 26. I am turning a senior citizen in August 2025. What will be my tax liability

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

15 August 2025 12.5% over 9 lakhs (after deduction of standard deduction, if applicable).

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

28 September 2025 Good luck.....

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