Surcharge applicability on LTCG loss
This query is : Resolved
23 March 2026
Dear Experts,
The assessee has taxable income from salary and other sources of 52 lacs after claiming standard deduction and NPS Benefit under new regime. He has long tram capital loss of Rs. 300000/-. Is he suppose to pay surcharge @ 10% on tax on 52 lacs income or his income would be considered below 52 lacs after deducting capital gain loss of 3 lac?
Please guide.
The assessee has taxable income from salary and other sources of 52 lacs after claiming standard deduction and NPS Benefit under new regime. He has long tram capital loss of Rs. 300000/-. Is he suppose to pay surcharge @ 10% on tax on 52 lacs income or his income would be considered below 52 lacs after deducting capital gain loss of 3 lac?
Please guide.
24 March 2026
The assessee is required to pay the 10% surcharge on the tax calculated for the income of ₹52 lakhs.
The long-term capital loss of ₹3,00,000 cannot be deducted from salary or other sources to reduce the total taxable income below the ₹52 lakh threshold for surcharge purposes.
The long-term capital loss of ₹3,00,000 cannot be deducted from salary or other sources to reduce the total taxable income below the ₹52 lakh threshold for surcharge purposes.
24 March 2026
Surcharge is calculated based on the "Total Income". Since the capital loss cannot be set off against your salary and other sources, your total income remains ₹52 lakhs for the purpose of determining surcharge applicability.
Since the income (₹52 lakhs) is only marginally above the ₹50 lakh threshold, the assessee may be eligible for Marginal Relief.
Since the income (₹52 lakhs) is only marginally above the ₹50 lakh threshold, the assessee may be eligible for Marginal Relief.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Credit rating model
- 115-BAC-for AOP-private discretionary trust
- Insurance make against any item and later get insurance claim received
- Youtube income
- IN PAGHDI SYSTERM . RENT RECPT CHANGE OF NAME AFTER FAMILY PARENTS TO SON
- GST APPEAL ITC
- ITR-U for AY21-22
- TDS U/S 194S VDA
- TCS Return Without PAN
- Surcharge applicability on LTCG loss
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- GST ON PERSONAL MOTORCAR SOLD
- Cash gift by grand mother to her grand daughter
- APPLICABILITY OF RCM ON MAN POWER SUPPLY BY UN REGISTERED PERSON TO REGISTERED PERSON.
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
