Tax liability calculation?

Remember you can use BEL for LTCG only after all other incomes are adjusted against BEL.

here you have business income of Rs. 2,90,000 which has ate all your BEL and you don't have BEL balance to use against LTCG. hence you have to pay tax as below

Business income is 2.9L-2.5L=40K*0.05=2K

LTCG=2L*0.2(LTCG Rate)=40K

Tax Liability is 40k+2k-12.5k=29.5k+1.18k=30.68k