Last chance before the financial year closes. Once April 1 hits the ₹1.25L LTCG exemption resets and unbooked losses cannot offset this year’s gains anymore.
Quick checklist before you act.
— Check unrealised LTCG in stocks and mutual funds held 12+ months. Book up to ₹1.25L. Zero tax.
— Check losing positions you want to exit anyway. Book them now. STCL offsets both STCG and LTCG.
— Check carried forward losses from last ITR. They offset current year gains automatically. Factor this in.
— Check holding period of each lot. FIFO applies — oldest quantity gets sold first.
— Remember T+1 settlement cycle. Plan your sell and rebuy dates accordingly.
Calculating all of this manually takes time and is easy to get wrong. Here is what you need to figure out before acting —
— Unrealised LT and ST breakup across all holdings
— Which stocks to sell to maximise ₹1.25L exemption
— How STCL and LTCL offset your gains
— Impact of carried forward losses on current year tax
— Final tax liability before you make any move
— FIFO lot level detail for each position
12 days left. Worth spending some time on this before the window closes.