If there is Long term capital gain exists how much total income to be considered

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P.Madhivadhanan (Querist)

19 June 2026 An assessee's other sources of income is Rs.1487040. The sold a flat for Rs.4500000 on 24/12/2025 and it was purchased during the finanical year 2006-27 for Rs.1600000. The assessee is resident indian citizen. Indexed capital loss works out to 431148. Whereas without indexation Rs.2900000 is long term capital gain. With indexation there is a tax Savings of Rs.362500. I want to know what is the Total income to be taken whether Rs.4387040 or Rs. 1487040 (LTCL not to be set off against other income in our case). The assessee follows new tax regime and adopts indexed cost of acquisition for calculation long term capital gain.

Aashok Kumar Sharma online

Aashok Kumar Sharma

(Expert)

19 June 2026 You cannot use your long-term capital loss to reduce your regular income (Rs. 14,87,040). Your "other sources of income" remain fully taxable. The long-term capital loss can only be used to offset future long-term capital gains and can be carried forward for up to 8 years if you file your tax return on time.

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