Do you get tax rebate on capital gains after budget 2025?

Do you get tax rebate on capital gains after budget 2025?

Can you please explain it with example? Suppose I have only 10 lakhs capital gain profit (no salary income) and 2 lakhs Business income (FnO trading) How much tax I need to pay with the new tax structure?

@Quicko

Hello @Jack_R

Finance minister has clarified yesterday in budget speech that taxpayer cannot claim rebate u/s 87A against special rate of Income.

Lets understand the taxes as per income situation you had mentioned.

Income 1 : STCG of 10 lakhs
Income 2 : F&O Profit of 2 lakhs.

Here, the basic exemption limit has been increased to 4 lakhs under the new regime.

This means there will be no tax on F&O Profit of 2 lakhs. Remaining 2 lakhs basic exemption limit can also be set off against STCG.

Balance STCG of 8 lakhs will be taxed at 20% i.e 1,60,000. (Assume sale date after 23.07.2024)

Thus you tax liability = 1,60,000 + Cess applicable.

Please note that this change will be applicable from FY 2025-26 i.e when you file ITR for the same period in AY 2026-27.

Thank you.

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