This discussion clarifies how tax is calculated on long-term capital gains (LTCG) under the new tax regime for individuals below 60. It addresses whether a surcharge applies when LTCG exceeds ₹50 lakh, especially when short-term capital gains (STCG) are also present. The consensus is that STCG will be absorbed by the basic exemption limit first, and the surcharge calculation for LTCG depends on the total taxable income after this absorption.
25 March 2025
if income is :- 1 lakh income from other sources 2 lakh short term cap.gain from sale of equity share via listed exchange 49 lakh long term cap.gain from sale of equity share via listed exchange ---- 52 lakh total income
how tax will be in (new regime for individual below 60 years) because, Long term cap.gain will be sepserately taxed at 12.5% plus surch + cess, right?
also, what is order to absorb within basic limit? 1st short term then long term righT?
my view:- there will be surcharge but confused, as non-long term cap. gain is less than 50 lakhs. (strangely,tax calculator after logging in income tax efiling is not showing quick links).