Exemption for STCG

Is the basic exemption limit available for short-term capital gains (STCG)?

For example, if someone has a total income of ₹5 lakh, entirely from STCG, are they eligible for tax exemption up to ₹4 lakh under the basic exemption limit?

Hi @DEV_GUPTA

Yes, basic exemption is available against the STCG income. Thus you can avail the exemption of 4 lakhs and pay 20% tax on remaining 1 lakh STCG.

Thank you.

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Is the same applicable for ltgc too ?

Hi @gpgane Yes, you can claim basic exemption against LTCG income too.

Thanks

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Thanks @Quicko

i am calculating my income tax liability. Am I eligible for the Section 87A rebate, and has this rebate amount increased, specifically from ₹25,000 to ₹60,000?
Thanks

@DEV_GUPTA, Nope, the rebate u/s 87A is not available against the special rate of Income i.e STCG in your case. Thus, you have to pay 20% on 1 lakh STCG.

Thank you.

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