Change of regime
This query is : Resolved
Quick Summary
05 August 2025
The assessee who is a non salaried senior citizen has filed ITR 3 in AY 2024-25 as there was a small F & O gain. Barring that there was capital gain and income from dividend and interest under new tax regime. This year he does not have any business income. Hence he has to file ITR 2 for income from Capital Gain and other sources like dividend and interest. His taxable income is around 350000 majorly due to Long Term Capital Gain. If he continue in new regime, he has to pay tax. But if he switches to old regime, there is no tax as he can claim interest income deduction of Rs. 50000/- u/s. 80TTA.
Question is can he claim rebate u/s. 87A for long term capital gain? If not, can he switch to old regime to save tax? If Yes, he has to file form 10-IEA?
Question is can he claim rebate u/s. 87A for long term capital gain? If not, can he switch to old regime to save tax? If Yes, he has to file form 10-IEA?
05 August 2025
1. No rebate for LTCG.
2. Yes
3. No; just select old regime in ITR 2 itself.
2. Yes
3. No; just select old regime in ITR 2 itself.
12 August 2025
You are welcome.
24 September 2025
Good Luck...
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