Capital gains-24.06.2025

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This query is : Resolved

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This discussion clarifies Capital Gains Tax (CGT) for the financial year 2025-26, particularly for individuals with Long Term Capital Gains (LTCG) and no business income. It addresses the tax liability on LTCG, the implications of becoming a senior citizen during the tax year, and the rules around advance tax payments. The consensus is that advance tax is not typically required for capital gains if there's no business income, with payment deadlines clarified for filing the Income Tax Return (ITR).

sundeep

sundeep (Querist)
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24 June 2025 No PGBP in FY25-26. OI is < 2 lakhs. LTCG is 9 lakhs after indexation. 20% tax on LTCG is 1.9 lacs. How much tax is applicable in FY25-26? I will be a senior citizen in August 2025. I did not pay any advance tax for LTCG. When to pay this tax during filing ITR or before March 15, 2026

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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24 June 2025 Being Sr. Citizen you can pay it before filing relevant ITR or before 31.07.2026. Tax liability would be 1.60 Lakhs + 4% cess.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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24 June 2025 he is not a senior citizen for this assessment year.

sundeep

sundeep (Querist)
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25 June 2025 At the time of filing ITR, I will be a senior citizen for FY25-26 (AY26-27).LTCG being a special category income, I will have to pay 1.9 Lacs as tax. Am I correct? LTCG was made in April 2025 . What about advance tax? Am I liable?

sundeep

sundeep (Querist)
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25 June 2025 ...........................................................................................

sundeep

sundeep (Querist)
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25 June 2025 Should senior citizens pay advance tax on ST & LT capital gains?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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25 June 2025 Please ignore my previous comment as I misread the financial year you were concerned about. advance tax wont apply to you as long as you do not have business income.

sundeep

sundeep (Querist)
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26 June 2025 Thanks sir....................................

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