LTCG after 24 july 2024

Jayesh NP (Tax Practitioner) (179 Points)

23 July 2025  

Sir 

Can we deduct basic exemption limit from capital gain computed with indexation and without indexation to compute relief provided under 2nd proviso to section 112.

As per income tax portal, differential tax is calculated without considering basic exemption. Then tax calculated @ 12.5% and then deducted the differential tax. It cause heavy taxes to some assesessee having no other income .