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ST capital gains and income tax

This query is : Resolved 

04 August 2024 fy23-24 I had filled up itr3 for stcg+professional income sec ADA+interest income total inr 461000/- no refund claimed no tax applicable. afterwards my ais got updated in july and i filed revised itr for same stcg+same professional income in sec ADA with inr2875 refund +interest income increased by inr11000 total inr480,000/-, with refund claim 2875/-. but this time IT cut inr880 for stcg and allowed refund of inr2000/-. Though my total income is less than 7 lac under new regime .why did they tax my stcg (last year they did not tax stcg )as soon as i claimed a refund on TDS professional income.





04 August 2024 Rebate u/s. 87A is not allowed over STCG u/s. 112A, IT act in new regime; which has been clarified by ITD; this year.

05 August 2024 YOU MEAN TO SAY THIS IS TAX ON SPECIAL CATEGORY INCOME OF STCG.


06 August 2024 Yes. u/s. 112A IT act.

06 August 2024 ok SIR, thanks very much. My doubt is now set to rest.But ITD has started implementing for FY23-24 itself though it was announced in budget 24

06 August 2024 As per recent clarification given by ITD it is applicable from the date of announcement.

06 August 2024 THANKS VERY MUCH SIR

06 August 2024 You are welcome.




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