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Income tax Basic exemptions and Capital gains

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ramesh

Retired Engineer

1 Points Posted on 04 July 2025

Investor, Super Senior citizen's normal income is less than the Basic exemption of Rs 5L for AY 2025-26 and he has some lomg term capital gains. Can both incomes clubed to utilise full exemption limit of Rs.5L. Balance capital gains will be paid as per special rates for LTCG.

Is this permissble?

Replies (2)

Quick Summary

This discussion clarifies whether a Super Senior Citizen, whose normal income is below the basic exemption limit of Rs 5 Lakhs for AY 2025-26, can club their long-term capital gains with normal income. The consensus is yes, allowing them to utilise the full Rs 5 Lakh exemption. Any remaining capital gains will be taxed at the special rates applicable to long-term capital gains, as per Section 112A.