Hi,
For financial year 2025-26,
I have 2 scenario.
(1)
If I have STCG on Stock/Mutual Fund RS 4,00,000. No other income.
So according to slab rate 0 to 4,00,000 no tax.
Do I need to pay 0 tax?
(2)
If I have LTCG on Stock/Mutual Fund RS 5,25,000. No other income.
5,25,000 - 1,25,000(benifit of limit) = 4,00,000
Than,
according to slab rate 0 to 4,00,000 no tax
Do I need to pay 0 tax?
Can you explain, how to calculate it?
Basic exemption limit is Rs. 3 lakhs. Being no other income the Capital gains in both cases will get reduced by the basic exemption.
For Capital gains u/s. 111A & 112A the rebate under sec. 87A not eligible. So pay tax at special rates for remaining 1 lakh capital gains.
But for financial Year 2025-26 new basic examption limit is Rs. 4 lakhs still need to pay TAX. Can you explain.
CAclubindia
