STCG
Sold your house property or land? These nine sections in Income Tax law can help save capital gains tax
Indians can save capital gains tax on property sales. The Income Tax Act offers nine sections for tax reduction or zero tax. Sections cover residential, industrial, agricultural land sales. Investment in new properties or bonds provides exemptions. Relocation of industrial units to specific zones also offers tax benefits. Investing in eligible startups can reduce tax burden.
From Rs 21,350 tax demand to zero tax; How a taxpayer won Section 87A case in ITAT Bengaluru
In a taxpayer-friendly ruling, the ITAT Bengaluru allowed Mr. Jakkaraju's Section 87A tax rebate claim, even though it was filed in a revised ITR. The tribunal emphasized that the initial failure to claim the rebate constituted a valid reason for revision. This decision aligns with a Bombay High Court ruling, ensuring taxpayers can rectify omissions and avail of entitled benefits.
I am an NRI. How can I take money out of India after selling inherited property and shares with minimum taxes?
I am an NRI with inherited property and shares in India. What are the best ways to repatriate funds without triggering high taxes or violating Foreign Exchange Management ACT (FEMA) rules?
ITR deadline: Do I need to file ITR if my salary income is less than Rs 3 lakh? Know when you need to file ITR
With the ITR filing deadline of September 15, 2025, fast approaching, the Income Tax Department is sending reminders. Filing is mandatory if your income exceeds ₹3 lakh under the new regime or Rs 2.5 lakh under the old regime, as per FY 2024-25 rules. Even with income below the limit, certain transactions or refund claims necessitate filing.
Select black money holders to get relief: Income tax dept. to not not apply penalty and prosecution in these situations
The Income Tax Department offers relief regarding unintentional black money. Individuals failing to disclose foreign assets up to Rs 20 lakh may avoid penalties and prosecution. This applies to assets excluding immovable property. The Central Board of Direct Taxes amended its instructions. The new rule aims to provide relief for unintentional omissions. It focuses enforcement on significant cases of non-disclosure.
Father receives Rs 4 lakh as cash gift in son’s marriage and wins income tax case of unexplained income; ITAT Ahmedabad ruling explained
Manubhai faced tax issues over cash gifts received before his son's wedding. The tax department alleged undisclosed income. Manubhai contested, providing guest lists and wedding details. Initially, his appeals were rejected. However, ITAT Ahmedabad ruled in his favor. They noted the assessing officer (AO) did not adequately investigate his evidence. The tribunal allowed his appeal, providing relief.
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Extend ITR and tax audit deadlines due to tax portal glitch, data mismatch in AIS and Form 26AS, new ICAI format, says CCTAX
ITR Filing Deadline Extended?: The Chandigarh Chartered Accountants Taxation Association (CCTAX) has urged the CBDT to extend the ITR and tax audit deadline for AY 2025-26, citing persistent glitches on the ITR filing portal, data mismatches, and recent ICAI format changes. CCTAX highlights that natural calamities and delayed utility releases have further complicated compliance. Read more.
ITR filing due date for FY 2024-25 is September 15, 2025, but is it also deadline to pay self-assessment tax without penalty?
The government extended the income tax return filing deadline for FY 2024-25 to September 15, 2025, offering relief to many taxpayers. Experts suggest that with the ITR filing due date for FY 2024-25 (AY 2025-26) extended to September 15, 2025, the revised date will be considered as the 'due date' for the purposes of Section 234A.
After STCG ruling, now LTCG also allowed to get Section 87A tax rebate, rules ITAT Chennai
On August 20, 2025, Chennai ITAT allowed Section 87A tax rebate on long term capital gains (LTCG). This decision favors taxpayers with incomes under Rs 7 lakh. The ruling references a Bombay High Court decision. Venkatraman, a taxpayer, initially faced denial of the rebate. ITAT Ahmedabad also allowed the rebate on STCG income on August 12, 2025.
How one real estate investor saved Rs 10 lakh LTCG tax on a Rs 50 lakh property sale with a simple hack
Indian property sale gains are taxed under capital gains rules, varying with holding period. Long-term gains, especially for properties acquired before July 2024, offer tax-saving options like indexation. Utilizing schemes like Section 54F and the Capital Gains Account Scheme (CGAS) before the September 15, 2025, deadline is crucial for exemptions.
87A and STCG: Will recent ITAT ruling on Section 87A allow taxpayer to claim 87A rebate on Short term capital gains while filing ITR?
A recent ITAT Ahmedabad ruling has sparked hope for taxpayers seeking Section 87A tax rebates on short-term capital gains (STCG) for FY 2024-25. The ruling states that Section 87A doesn't explicitly exclude STCG, potentially allowing the rebate if total income is within the specified limits. Read below to know more about Section 87A on STCG.
Section 87A tax rebate can be claimed for short term capital gains income under new tax regime, rules ITAT Ahmedabad
In a significant win for taxpayers, the ITAT Ahmedabad has ruled that Section 87A tax rebate is applicable on short-term capital gains (STCG) under the new tax regime for AY 2024-25. This decision allows taxpayers with total income up to Rs 7 lakh to claim the rebate on STCG, nullifying tax department notices denying such claims. Read more.
Should you invest in global securities via GIFT City or continue with direct LRS?
With mutual funds hitting RBI’s $7 billion overseas investment limit, India’s financial hub offers residents a regulated path to global diversification under the LRS route.
Section 87A rebate rule correction: No income tax till income of Rs 12.75 lakh for salaried individuals except this income
For FY 2025-26 (AY 2024-25) Section 87A rebate allows an salaried individual to not pay any tax for income up to Rs 12.75 lakh but this rebate is not allowed on short term capital gains income under new tax regime. However, a drafting error in standard deduction limited it to Rs 50,000 instead of Rs 75,000 as announced in Budget 2025. This drafting error is now fixed.
No income tax rebate under Section 87A even if income is less than Rs 7 Lakh under new tax regime in this situation, point out CAs
Chartered Accountants have raised concerns about the denial of Section 87A tax rebates to eligible taxpayers with special rate incomes like STCG under new tax regime. While a Budget 2025 amendment restricts this rebate on special incomes from FY 2025-26, the ITR utility is already denying it for FY 2024-25, causing confusion and additional tax burdens. Read more.
Error in ITR-2 online utility: CA highlights technical bug which may lead to taxpayers with capital gains income, carry forward loss getting scrutiny notices later
A Chartered Accountant has identified a technical error in the ITR-2 online utility, causing inconsistencies between loss adjustment and carry forward schedules. This glitch may lead to incorrect carry-forward of losses, potentially resulting in scrutiny notices and complications for taxpayers with capital gains income. The Income Tax Department is currently investigating the issue.
ITR alert: If you meet any of these 8 conditions, tax return filing is a must
ITR filing mandatory: Many taxpayers believe that they have to file their income tax return only if their gross taxable income exceeds the basic exemption limit. However, not many are aware that ITR filing is mandatory in eight conditions, even if the gross taxable income is below the basic exemption limit.
Is LTCG exemption on equity, equity mutual funds Rs 1 lakh or Rs 1.25 lakh while filing ITR for FY 2024-25 (AY 2025-26)?
LTCG Equity Exemption for ITR Filing: The capital gains rules were amended effective July 23, 2024. The new capital rules have created confusion among those who sold listed equity and equity mutual funds throughout the year, especially because the LTCG equity exemption limit was hiked to Rs 1.25 lakh from Rs 1 lakh earlier.
Capital gain tax ready reckoner: Listed equity, unlisted equity, gold, house property, and other assets for ITR filing FY 2024-25 (AY 2025-26)
Latest Capital gain tax rules: The capital gain tax rules were changed in the mid-year from FY 2024-25 (AY 2025-26). Due to this, a taxpayer needs to be aware of both the old and new rules to pay the correct tax, depending on the date of sale. Here is a handy guide for individual taxpayers who have STCG and LTCG from houses, listed equity, unlisted equity, gold, and other assets.
Mutual fund taxation for AY 2025-26: Latest capital gain tax rules for equity mutual funds, debt mutual funds, international mutual funds, gold mutual funds, others
Mutual fund capital gains tax rules for ITR filing: Budget 2024 changed the capital gains tax rules from FY 2024-25. The changes became effective from July 23, 2024. Due to this both the old and new capital gains rules will apply for mutual fund redemptions happened during the FY 2024-25, depending on the date of sale. Check the new and old capital gains rule for mutual funds for ITR filing 2025
NRI Taxation: Mutual funds capital gain, TDS rules; STCG, LTCG tax rules from equity, debt, international, hybrid MFs and others
Mutual funds taxation for NRI: From FY 2024-25, the capital gains taxation rules were revised for all asset classes, including mutual funds. Many NRIs who are or have been investing in mutual funds in India are confused about the taxation rules. Here are the rules of how mutual funds are taxed in the case of an NRI investor.
ITR filing 2025: Who can file ITR-1, who cannot file it for FY 2024-25 (AY 2025-26)?
The Income Tax Department has released ITR forms for FY 2024-25, revising ITR-1 eligibility. Individuals with income up to Rs 50 lakh, including limited LTCG from listed equity shares/mutual funds (up to Rs 1.25 lakh), can use ITR-1. However, those with higher income, business income, or multiple properties are ineligible.
Income tax slabs for salaried individuals for ITR filing FY 2024-25 (AY 202-26) under old, new tax regime
Income Tax Slabs for Salaried Individuals: The last date to file the income tax return for salaried individuals has been extended from July 31, 2025, to September 15, 2025. However, not many salaried individuals are aware of the income tax slabs that will apply to their income for calculating income tax liability.
Taxable income below Rs 7 lakh: Will you pay zero income tax if this income includes LTCG and STCG for FY 2024-25?
Zero tax on incomes up to Rs 7 lakh: Budget 2025 clarified that tax rebate under Section 87A will not be available to incomes that are taxed at special rates. This rule applies to the incomes earned on or after April 1, 2025. However, there is no clarity on whether the tax rebate under Section 87A is available on LTCG and STCG for this year's ITR filing.
Sold equities and want to pay less capital gains tax by using Securities Transaction Tax (STT)? Find out if you are eligible to do so
Intraday stock traders can lower their capital gains tax by adding Securities Transaction Tax (STT) in their acquisition cost, unlike regular investors. This reduces net capital gains. But equity investors taking delivery of securites can't add STT to their cost of acquisition and doing so can trigger income tax notices. Read below to know more about capital gains tax on equities.
Think market income below Rs 12 lakh is tax free? TaxBuddy founder warns how this common mistake could attract big tax notice
Many Indian retail investors are surprised to learn that earning under ₹12 lakh in the stock market doesn't guarantee tax exemption. Confusions arise from overlooking how different income types are taxed, such as intraday trading, F&O, STCG, and LTCG. Understanding income classification is crucial for accurate tax calculation and avoiding unexpected notices.
How will new tax rules impact your investment in FoFs?
Following the 2024 budget's tax rule changes, investors are showing renewed interest in Fund of Funds (FoFs), particularly in precious metals and international categories, due to long-term capital gains benefits after 24 months. While offering diversification, FoFs involve a double expense ratio, requiring investors to carefully consider costs, especially in lower-return asset classes.
Section 87A tax rebate on STCG income allowed by CIT (Appeals); Know how this legal battle was won
Section 87A: Tax rebate under Section 87A was not given on special rate income like STCG since July 5, 2024. Many taxpayers who could claim it were served with a tax demand notice. Now a Delhi based taxpayer who filed a case heard by Commissioner of Income Tax (Appeals) Mumbai won. The CIT (A) decided based on statistical reason this taxpayer should get Section 87A tax rebate on STCG.
Claimed 87A tax rebate for STCG in your ITR? You may get tax demand notice
Income tax rebate: Income tax rebate under section 87A is not available for Long Term Capital Gains (LTCG). "Earlier the Income Tax Utility Software allowed filing of returns with rebate, but after July 5, 2024 this rebate is no longer given for STCG. Pursuant to those returns which were filed with rebate are now getting intimations for tax demand equivalent to amount to rebate availed," says CA Hardik Kakadiya, President, Chartered Accountants Association Surat (CAAS).
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