How to calculate LTCG FOR fy 2024-25, if my LTCG is say 1 lac upto 22-7-24 and from 23-7-24 to 31-3-25 the gains are 1.25 lacs. How much is the exemption for each part and how do I calculate my tax liability. How does it change if the gains before 22-7-24 is 1.5 lacs and from 23-7-24 the gains are 1.5 lacs. While calculating for the 2 parts, how much is the exemption to be taken whether absolutely or some pro rat a basis? So what is the calculation procedure as the rates also change for LTCG tax rate for the periods
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STCG and LTCG Rate changes in the middle of FY 2024-25
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Thr exemption is allowed in the utility itself. It deducts the exemption from the income which is charged at maximum rate (No prorata basis). If the income at maximum rate is lesser than the exemption limit, then the balance is deducted from the income which is charged at lesser rate.
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