Hi CAs,
Need urgent help in planning for LTCG for this FY 2024-25/ AY2025-26
Earlier, we used to get 87A relief for total income upto particular threshold (suppose currently 7 Lakh), that included LTCG from stocks as well
If same continued for current FY 2024-25/ AY 2025-26 as well....to plan LTCG
Illustration
if other taxable income is say 3.5 Lakh +LTCG 3 Lakh=6.5 Lakh < 7 Lakh
Income tax = 0 (after applying 87A rebate for income upto INR 7 Lakh )
Please confimr if above calc is correct for this FY2024-25/AY2025-26
BTW, understand as per budget for next FY2025-26 (LTCG is excluded from 87A relief)
Thanks in Advance