If pension and other income is
Rs675000and Short term capital gain is Rs 72500 ie total income is less than Rs 75000 for the financial year 2023-25. what is tax liability as per new tax regime.
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Income tax payable as per new tax regime for FY 2023-24
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Quick Summary
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Income
(A) Income From Salary = 675000
(B) Standard Deduction = (-) 50000
(C) Net Taxable Income = 625000
(D) Income from STCG = 72500
Tax Liability (New Regime)
(A) Income from Salary/Pension = 17500 (Tax at Normal Rates)
(B) Income from STCG = 10875 (Tax at Special Rates Assuming Covered u/s 111A - 15%)
(C) Total Tax before Rebate = 28375
(D) Tax Rebate u/s 87A = (-) 25000
(E) Net Tax after Rebate = 3375
(F) Health & Education Cess (4%) = 135
(G) Total Tax on Income = 3510
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https://eportal.incometax.gov.in/iec/foservices/#/TaxCalc/calculator
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