A reader says, “That is about your article ‘Is 87 A Rebate Relevant for Capital Beneficial properties after Price range 2025‘ dated 3 February 2025 in your web site. Can I avail of the Rs 12,500 rebate for FY 2024-25 on fairness LTCG if my taxable earnings is inside Rs 5 Lakhs?” Tax knowledgeable Manmohan Sethumadhavan responds.
Concerning the creator: Manmohan Sethumadhavan is a freelancer, investor, and private finance fanatic “looking for absolutely the fact.” You possibly can comply with Manu on Twitter @ManuTsr. Additionally, learn his articles:
The article primarily focuses on the 87A disallowance problem that began on fifth July 2024. There are two fundamental guidelines to begin with. 1. There isn’t any change within the 87A rebate for the previous regime at any time. 2. For LTCG from fairness, 87A is disallowed inside part 112A itself; therefore, 87A is just not relevant for LTCG from fairness u/s 112A no matter which regime opted.
All different guidelines are to be learn within the context of the above. So, there is no such thing as a change in rebate for the previous regime; the rebate is relevant for all sorts of earnings, besides LTCG from fairness. Taxpayers can nonetheless go for the previous regime and avail of the rebate as earlier than (which implies apart from LTCG from fairness).
To your particular case, you can not avail of a rebate on LTCG whether it is from Fairness MF, even whether it is within the previous regime.
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