Capital Gain Tax Liability FY 2024-25 AY 2025-26

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SUDHIR VARDHAN (Querist)
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03 February 2025 During the FY 2024-25 my Capital Gain - Long term is Rs.410,000 and Short Term Rs. 80,000. My Query is:
1. what is the exemption available on LTCG and STCG.
2 What is the rebate available u/s 87A for LTCG and STCG (Referring to the recent High Court Matter on claiming rebate u/s 87A for Capital Gain)
3 What is my Tax liability on the above both Capital Gain income.
4. Does my above earning fall within or outside the slated income tax slab.
5. Should i pay advance tax now ie in Feb 2025 as the earnings has been mostly during June-Dec 2024.
6. Until now i have been filing returns as Individual under old regime, is it advisable to file returns under new regime as my other Income is within 3.50 Lacs p.a. comprising of House Rental income, Dividend and Bank Interest.
pls advise

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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03 February 2025 1. 1.25 lakh exemption for LTCG under sec. 112A also investment under sec. 54/54EC/54F etc.
2. Rebate u/s. 87A would not be eligible over capital gains at special rates.
3. 12.5% over LTCG & 20% over sec. 111A.
4. Above 7 lakhs for 87A rebate. Rs. 12 lakhs limit is for AY 2026-27.
5. Yes, otherwise interest will be liable.
6. Check tax liability under both regime before filing return.

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